Textron Inc. (NYSE:TXT) Stake Lowered by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Textron Inc. (NYSE:TXT) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 230,575 shares of the aerospace company’s stock after selling 56 shares during the period. Retirement Systems of Alabama’s holdings in Textron were worth $10,860,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in TXT. Vanguard Group Inc. increased its stake in Textron by 3.4% in the first quarter. Vanguard Group Inc. now owns 24,537,994 shares of the aerospace company’s stock valued at $1,167,763,000 after buying an additional 812,940 shares during the period. BlackRock Inc. increased its stake in Textron by 3,689.9% in the first quarter. BlackRock Inc. now owns 17,144,765 shares of the aerospace company’s stock valued at $815,921,000 after buying an additional 16,692,390 shares during the period. State Street Corp increased its stake in Textron by 3.3% in the first quarter. State Street Corp now owns 11,562,285 shares of the aerospace company’s stock valued at $550,256,000 after buying an additional 370,189 shares during the period. American Century Companies Inc. increased its stake in Textron by 8.7% in the first quarter. American Century Companies Inc. now owns 5,204,734 shares of the aerospace company’s stock valued at $247,693,000 after buying an additional 415,861 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Textron by 17.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,099 shares of the aerospace company’s stock valued at $166,712,000 after buying an additional 524,664 shares during the period. Institutional investors own 83.55% of the company’s stock.

Shares of Textron Inc. (NYSE:TXT) opened at 48.24 on Friday. The company has a market cap of $12.77 billion, a P/E ratio of 14.75 and a beta of 1.56. Textron Inc. has a 52 week low of $37.19 and a 52 week high of $50.93. The company’s 50-day moving average price is $48.34 and its 200 day moving average price is $47.69.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, equities analysts forecast that Textron Inc. will post $2.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Thursday, September 14th. Textron’s dividend payout ratio (DPR) is presently 2.45%.

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Several analysts have recently issued reports on TXT shares. Credit Suisse Group reiterated an “outperform” rating and set a $55.00 price target (up previously from $50.00) on shares of Textron in a research note on Thursday, July 20th. Zacks Investment Research downgraded Textron from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub downgraded Textron from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Cowen and Company restated an “outperform” rating and set a $60.00 target price on shares of Textron in a research note on Saturday, April 22nd. Finally, Wells Fargo & Company restated an “outperform” rating and set a $54.00 target price (up previously from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $53.60.

About Textron

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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