New York State Common Retirement Fund Has $33.47 Million Position in Textron Inc. (NYSE:TXT)

New York State Common Retirement Fund reduced its stake in Textron Inc. (NYSE:TXT) by 10.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 437,595 shares of the aerospace company’s stock after selling 51,900 shares during the quarter. New York State Common Retirement Fund owned approximately 0.24% of Textron worth $33,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TXT. International Assets Investment Management LLC acquired a new stake in Textron in the 4th quarter worth approximately $11,523,000. National Bank of Canada FI lifted its holdings in Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock worth $12,860,000 after purchasing an additional 89,724 shares during the last quarter. Vinva Investment Management Ltd lifted its holdings in Textron by 1,757.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 72,446 shares of the aerospace company’s stock worth $6,357,000 after purchasing an additional 68,546 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Textron by 18.0% in the 3rd quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock worth $35,563,000 after purchasing an additional 61,248 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Textron by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after purchasing an additional 57,967 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TXT has been the topic of several recent analyst reports. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Barclays dropped their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. TD Cowen raised Textron to a “hold” rating in a research report on Thursday, December 19th. Finally, UBS Group dropped their price target on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Performance

TXT opened at $72.49 on Friday. The stock has a market cap of $13.23 billion, a PE ratio of 16.82, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 1 year low of $71.94 and a 1 year high of $97.33. The stock’s 50 day simple moving average is $76.37 and its 200-day simple moving average is $82.79.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the business posted $1.60 earnings per share. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. Sell-side analysts forecast that Textron Inc. will post 6.11 EPS for the current year.

Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.