Retirement Systems of Alabama Sells 1,640 Shares of Textron Inc. (NYSE:TXT)

Retirement Systems of Alabama lowered its position in shares of Textron Inc. (NYSE:TXT) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,426 shares of the aerospace company’s stock after selling 1,640 shares during the period. Retirement Systems of Alabama’s holdings in Textron were worth $3,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TXT. Innealta Capital LLC purchased a new position in shares of Textron during the 2nd quarter valued at $25,000. True Wealth Design LLC purchased a new position in Textron during the third quarter worth about $26,000. Family Firm Inc. bought a new position in Textron in the 2nd quarter worth about $40,000. Capital Performance Advisors LLP purchased a new stake in shares of Textron in the 3rd quarter valued at about $42,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Textron in the 3rd quarter valued at about $43,000. Institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of NYSE:TXT opened at $75.82 on Friday. The company’s fifty day moving average is $84.34 and its 200 day moving average is $86.51. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron Inc. has a 52 week low of $75.76 and a 52 week high of $97.33. The stock has a market cap of $14.07 billion, a PE ratio of 16.66, a PEG ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 EPS. Research analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. UBS Group decreased their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. TD Cowen cut Textron from a “buy” rating to a “hold” rating and reduced their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, Robert W. Baird lowered their price target on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.56.

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.