Teachers Retirement System of The State of Kentucky Purchases 56,544 Shares of Textron Inc. (NYSE:TXT)

Teachers Retirement System of The State of Kentucky increased its holdings in Textron Inc. (NYSE:TXT) by 20.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,337 shares of the aerospace company’s stock after acquiring an additional 56,544 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.18% of Textron worth $28,362,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TXT. Boston Partners raised its stake in shares of Textron by 1.4% during the 1st quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock worth $682,475,000 after purchasing an additional 99,868 shares during the period. LSV Asset Management increased its holdings in Textron by 6.9% during the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after buying an additional 260,003 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after buying an additional 160,923 shares during the last quarter. Brandes Investment Partners LP raised its position in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after acquiring an additional 258,778 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after acquiring an additional 231,173 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of research reports. Citigroup lifted their price target on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $103.00 to $95.00 in a research note on Wednesday, September 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 research note on Thursday, August 8th. Bank of America lifted their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, UBS Group raised their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Textron presently has an average rating of “Hold” and a consensus target price of $101.50.

Textron Trading Up 0.9 %

Shares of Textron stock opened at $88.56 on Tuesday. The company has a 50 day simple moving average of $88.20 and a two-hundred day simple moving average of $89.11. The firm has a market cap of $16.59 billion, a PE ratio of 18.92, a PEG ratio of 1.39 and a beta of 1.23. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81.

Textron (NYSE:TXT) last posted its quarterly 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. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. Analysts expect that Textron Inc. will post 6.18 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

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.