Textron Inc. (NYSE:TXT) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its holdings in shares of Textron Inc. (NYSE:TXT) by 4.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,957 shares of the aerospace company’s stock after selling 400 shares during the period. New Mexico Educational Retirement Board’s holdings in Textron were worth $685,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in Textron in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Textron in the 3rd quarter valued at $42,000. Eastern Bank purchased a new stake in Textron in the 4th quarter worth $42,000. Truvestments Capital LLC acquired a new position in Textron during the third quarter worth $43,000. Finally, Venturi Wealth Management LLC lifted its holdings in Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $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.

Analyst Upgrades and Downgrades

TXT has been the subject of several research analyst reports. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Monday, January 6th. Morgan Stanley decreased their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Susquehanna dropped their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird reduced their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Stock Up 0.1 %

TXT stock opened at $72.38 on Wednesday. The firm has a market cap of $13.22 billion, a PE ratio of 16.79, a PEG ratio of 1.23 and a beta of 1.27. Textron Inc. has a one year low of $71.94 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83. The firm’s 50 day moving average price is $76.74 and its 200-day moving average price is $82.94.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 EPS. On average, equities research analysts anticipate that Textron Inc. will post 6.1 EPS for the current year.

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.