State of New Jersey Common Pension Fund D Sells 4,482 Shares of Textron Inc. (NYSE:TXT)

State of New Jersey Common Pension Fund D cut its holdings in Textron Inc. (NYSE:TXT) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,353 shares of the aerospace company’s stock after selling 4,482 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Textron were worth $4,769,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TXT. Creative Planning boosted its stake in shares of Textron by 0.4% during the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after acquiring an additional 165 shares in the last quarter. Blue Trust Inc. boosted its position in Textron by 73.3% during the third quarter. Blue Trust Inc. now owns 1,915 shares of the aerospace company’s stock worth $164,000 after purchasing an additional 810 shares during the period. Foundations Investment Advisors LLC grew its holdings in Textron by 21.3% during the third quarter. Foundations Investment Advisors LLC now owns 4,103 shares of the aerospace company’s stock valued at $363,000 after purchasing an additional 721 shares during the last quarter. Stanley Laman Group Ltd. raised its position in shares of Textron by 1.0% in the third quarter. Stanley Laman Group Ltd. now owns 39,323 shares of the aerospace company’s stock valued at $3,483,000 after purchasing an additional 405 shares during the period. Finally, Private Advisor Group LLC lifted its stake in shares of Textron by 10.2% in the third quarter. Private Advisor Group LLC now owns 15,948 shares of the aerospace company’s stock worth $1,413,000 after buying an additional 1,481 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Up 0.2 %

Shares of TXT stock opened at $72.62 on Thursday. Textron Inc. has a one year low of $71.94 and a one year high of $97.33. 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 stock has a fifty day moving average price of $76.55 and a 200 day moving average price of $82.86. The stock has a market cap of $13.26 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm earned $1.60 EPS. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. Analysts predict that Textron Inc. will post 6.11 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on TXT. Morgan Stanley dropped their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Robert W. Baird dropped their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. UBS Group decreased their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. 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. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Textron has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Company 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.