Kentucky Retirement Systems Insurance Trust Fund Decreases Holdings in Textron Inc. (NYSE:TXT)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in Textron Inc. (NYSE:TXT) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,547 shares of the aerospace company’s stock after selling 604 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Textron were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TXT. Innealta Capital LLC purchased a new stake in shares of Textron during the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Textron during the 2nd quarter worth $30,000. Oakworth Capital Inc. acquired a new position in Textron in the 2nd quarter worth $31,000. Family Firm Inc. purchased a new position in Textron in the 2nd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Textron during the third quarter valued at about $42,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TXT. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Robert W. Baird reduced their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, UBS Group reduced their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Price Performance

Shares of NYSE:TXT opened at $83.34 on Tuesday. The company has a market cap of $15.46 billion, a PE ratio of 18.32, a P/E/G ratio of 1.53 and a beta of 1.24. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The firm has a 50-day simple moving average of $86.32 and a 200 day simple moving average of $87.31. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the company posted $1.49 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s dividend payout ratio is currently 1.76%.

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.