California State Teachers Retirement System Acquires 3,767 Shares of Textron Inc. (NYSE:TXT)

California State Teachers Retirement System increased its position in Textron Inc. (NYSE:TXT) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,325 shares of the aerospace company’s stock after purchasing an additional 3,767 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Textron worth $31,784,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TXT. Lindbrook Capital LLC increased its position in shares of Textron by 18.6% during the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 122 shares during the last quarter. True Vision MN LLC lifted its position in Textron by 2.5% in the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after buying an additional 133 shares during the last quarter. Allworth Financial LP lifted its position in Textron by 12.0% in the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after buying an additional 137 shares during the last quarter. Czech National Bank increased its stake in shares of Textron by 0.5% during the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock valued at $3,308,000 after buying an additional 157 shares during the period. Finally, Altman Advisors Inc. grew its stake in Textron by 0.8% in the fourth quarter. Altman Advisors Inc. now owns 21,357 shares of the aerospace company’s stock valued at $1,718,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Insider Activity

In other news, Director Kathleen M. Bader sold 11,870 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TXT. TD Cowen lifted their target price on Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Bank of America raised their price target on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Citigroup raised their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. 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. Finally, Susquehanna lowered their price target on 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 given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.63.

Textron Stock Performance

Shares of Textron stock traded up $0.84 on Wednesday, reaching $92.90. 818,965 shares of the stock were exchanged, compared to its average volume of 1,125,657. The company has a quick ratio of 0.66, a current ratio of 1.64 and a debt-to-equity ratio of 0.42. Textron Inc. has a twelve month low of $73.78 and a twelve month high of $97.33. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 1.46 and a beta of 1.25. The business has a 50 day moving average price of $87.88 and a two-hundred day moving average price of $88.62.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the company posted $1.46 earnings per share. Textron’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts anticipate that Textron Inc. will post 6.26 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s dividend payout ratio (DPR) is presently 1.71%.

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.