Kentucky Retirement Systems Insurance Trust Fund Increases Stock Position in Textron Inc. (NYSE:TXT)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 79.5% during the 4th quarter, Holdings Channel reports. The firm owned 9,956 shares of the aerospace company’s stock after buying an additional 4,409 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Textron were worth $762,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC acquired a new stake in shares of Textron during the third quarter worth about $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Textron during the third quarter worth about $42,000. Eastern Bank acquired a new stake in shares of Textron during the fourth quarter worth about $42,000. Truvestments Capital LLC acquired a new stake in shares of Textron during the third quarter worth about $43,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Up 0.1 %

TXT stock opened at $72.38 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a twelve month low of $71.94 and a twelve month high of $97.33. The company’s 50 day moving average is $76.74 and its two-hundred day moving average is $82.94. The stock has a market cap of $13.22 billion, a P/E ratio of 16.79, a PEG 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 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Research analysts expect that Textron Inc. will post 6.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

TXT has been the topic of several research reports. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. UBS Group reduced their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $85.00 in a report on Friday, January 24th. Morgan Stanley reduced 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

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.