California State Teachers Retirement System Trims Stock Holdings in Textron Inc. (NYSE:TXT)

California State Teachers Retirement System reduced its holdings in shares of Textron Inc. (NYSE:TXT) by 16.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,508 shares of the aerospace company’s stock after selling 55,441 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Textron worth $20,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TXT. Balyasny Asset Management L.P. raised its holdings in Textron by 6,785.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock valued at $94,575,000 after acquiring an additional 1,218,485 shares during the period. Invesco Ltd. grew its position in shares of Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock valued at $591,523,000 after purchasing an additional 1,167,105 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Textron during the 4th quarter valued at $41,451,000. D. E. Shaw & Co. Inc. lifted its holdings in Textron by 97.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company’s stock worth $78,872,000 after purchasing an additional 510,085 shares in the last quarter. Finally, Boston Partners lifted its holdings in Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TXT. UBS Group upped their price target on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research report on Monday, April 28th. Morgan Stanley decreased their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Citigroup lowered their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $87.70.

Textron Price Performance

Shares of NYSE:TXT opened at $74.00 on Friday. The company’s fifty day moving average price is $70.11 and its 200-day moving average price is $75.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The firm has a market capitalization of $13.36 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.18 and a beta of 1.20. Textron Inc. has a one year low of $57.70 and a one year high of $94.57.

Textron (NYSE:TXT) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. On average, equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio is 1.81%.

About Textron

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.