Illinois Municipal Retirement Fund Raises Stake in Textron Inc. (NYSE:TXT)

Illinois Municipal Retirement Fund lifted its position in shares of Textron Inc. (NYSE:TXT) by 33.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 152,175 shares of the aerospace company’s stock after purchasing an additional 37,940 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.08% of Textron worth $12,238,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TXT. SC&H Financial Advisors Inc. purchased a new position in Textron in the 4th quarter worth approximately $250,000. Duality Advisers LP purchased a new position in Textron in the 4th quarter worth approximately $2,745,000. Keeler Thomas Management LLC boosted its holdings in Textron by 3.4% in the 4th quarter. Keeler Thomas Management LLC now owns 52,474 shares of the aerospace company’s stock worth $4,220,000 after acquiring an additional 1,701 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Textron by 2.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,005 shares of the aerospace company’s stock worth $1,448,000 after acquiring an additional 379 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in Textron by 18.6% in the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group upped their price target on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Citigroup upped their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. The Goldman Sachs Group upped their target price on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.63.

Textron Stock Performance

Shares of TXT stock traded up $1.66 on Tuesday, hitting $95.43. 351,548 shares of the stock traded hands, compared to its average volume of 1,139,008. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $97.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The company’s fifty day moving average is $91.77 and its 200 day moving average is $83.61. The company has a market capitalization of $18.36 billion, a PE ratio of 20.52, a PEG ratio of 1.47 and a beta of 1.30.

Textron (NYSE:TXT) last issued its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the company earned $1.07 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts predict that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend was Thursday, March 14th. Textron’s dividend payout ratio is presently 1.75%.

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.