Textron Inc. (NYSE:TXT) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in shares of Textron Inc. (NYSE:TXT) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,885 shares of the aerospace company’s stock after selling 797 shares during the period. Kentucky Retirement Systems’ holdings in Textron were worth $1,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TXT. Morton Brown Family Wealth LLC purchased a new stake in Textron in the fourth quarter valued at $40,000. Jones Financial Companies Lllp lifted its position in Textron by 200.0% in the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 338 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Textron by 677.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 474 shares during the last quarter. Spire Wealth Management lifted its position in Textron by 90.3% in the fourth quarter. Spire Wealth Management now owns 588 shares of the aerospace company’s stock valued at $46,000 after acquiring an additional 279 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Textron in the first quarter valued at $48,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

TXT has been the subject of a number of research reports. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. TD Cowen upped their target price on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. UBS Group upped their target price on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Citigroup upped their target price on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Susquehanna reduced their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.63.

Insiders Place Their Bets

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the transaction, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Textron Stock Performance

Shares of Textron stock traded up $0.77 on Friday, reaching $92.06. 743,273 shares of the stock were exchanged, compared to its average volume of 1,031,720. Textron Inc. has a 1-year low of $72.37 and a 1-year high of $97.33. The company has a current ratio of 1.64, a quick ratio of 0.66 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average price of $87.69 and a two-hundred day moving average price of $88.40. The firm has a market capitalization of $17.56 billion, a PE ratio of 19.67, a PEG ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that Textron Inc. will post 6.26 earnings per share for the current fiscal year.

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.