Textron Inc. (NYSE:TXT) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in Textron Inc. (NYSE:TXT) by 26.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,992 shares of the aerospace company’s stock after selling 31,382 shares during the period. Illinois Municipal Retirement Fund’s holdings in Textron were worth $6,731,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TXT. International Assets Investment Management LLC acquired a new stake in shares of Textron during the fourth quarter valued at about $11,523,000. Bank of New York Mellon Corp boosted its position in shares of Textron by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock worth $109,257,000 after purchasing an additional 104,982 shares during the period. National Bank of Canada FI increased 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 valued at $12,860,000 after purchasing an additional 89,724 shares during the last quarter. Vinva Investment Management Ltd raised its position in Textron by 1,757.6% in the third quarter. Vinva Investment Management Ltd now owns 72,446 shares of the aerospace company’s stock valued at $6,357,000 after purchasing an additional 68,546 shares during the period. Finally, Wellington Management Group LLP raised its position in Textron by 18.0% in the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock valued at $35,563,000 after purchasing an additional 61,248 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 0.3 %

Shares of NYSE:TXT opened at $72.99 on Thursday. Textron Inc. has a fifty-two week low of $71.67 and a fifty-two week high of $97.33. The firm’s 50 day moving average price is $75.83 and its 200 day moving average price is $82.45. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned $1.60 EPS. As a group, equities research analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is 1.86%.

Insider Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of research reports. Robert W. Baird dropped their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Morgan Stanley lowered their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. Citigroup lowered their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Susquehanna dropped their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.