New York State Common Retirement Fund Sells 51,900 Shares of Textron Inc. (NYSE:TXT)

New York State Common Retirement Fund trimmed its stake in Textron Inc. (NYSE:TXT) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 437,595 shares of the aerospace company’s stock after selling 51,900 shares during the period. New York State Common Retirement Fund’s holdings in Textron were worth $33,472,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TXT. True Wealth Design LLC acquired a new position in Textron in the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in Textron in the third quarter worth $42,000. Truvestments Capital LLC acquired a new position in Textron in the third quarter worth $43,000. Eastern Bank acquired a new position in Textron in the fourth quarter worth $42,000. Finally, Venturi Wealth Management LLC boosted its stake in Textron by 69.5% in 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. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Down 0.2 %

NYSE:TXT opened at $72.49 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The company has a market cap of $13.23 billion, a PE ratio of 16.82, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52-week low of $71.94 and a 52-week high of $97.33. The stock has a 50-day simple moving average of $76.37 and a 200 day simple moving average of $82.79.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. On average, sell-side analysts expect that Textron Inc. will post 6.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of recent analyst reports. TD Cowen raised Textron to a “hold” rating in a research note on Thursday, December 19th. Susquehanna cut their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Vertical Research raised 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. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and cut their price target for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, Robert W. Baird cut their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.