IBM Retirement Fund Invests $217,000 in Textron Inc. (TXT)

IBM Retirement Fund purchased a new stake in shares of Textron Inc. (NYSE:TXT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,023 shares of the aerospace company’s stock, valued at approximately $217,000.

Several other institutional investors also recently bought and sold shares of TXT. Fox Run Management L.L.C. bought a new stake in Textron in the second quarter worth $245,000. Creative Planning boosted its holdings in Textron by 9.6% in the second quarter. Creative Planning now owns 13,137 shares of the aerospace company’s stock worth $619,000 after purchasing an additional 1,154 shares in the last quarter. National Pension Service boosted its holdings in Textron by 9.0% in the second quarter. National Pension Service now owns 275,376 shares of the aerospace company’s stock worth $12,844,000 after purchasing an additional 22,684 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in Textron by 5.8% in the second quarter. LS Investment Advisors LLC now owns 11,556 shares of the aerospace company’s stock worth $544,000 after purchasing an additional 636 shares in the last quarter. Finally, Aperio Group LLC boosted its holdings in Textron by 5.8% in the second quarter. Aperio Group LLC now owns 103,912 shares of the aerospace company’s stock worth $4,894,000 after purchasing an additional 5,686 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Textron Inc. (TXT) traded down $1.10 during mid-day trading on Thursday, reaching $52.47. 1,366,700 shares of the company’s stock were exchanged, compared to its average volume of 1,562,476. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.08 and a quick ratio of 0.96. Textron Inc. has a one year low of $43.66 and a one year high of $55.80. The company has a market capitalization of $14,111.43, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.46 and a beta of 1.58.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Textron had a net margin of 4.48% and a return on equity of 12.02%. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. equities analysts forecast that Textron Inc. will post 2.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s dividend payout ratio is currently 3.45%.

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A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. BidaskClub cut shares of Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Drexel Hamilton upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Monday, September 11th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Textron in a report on Tuesday, September 26th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $56.92.

Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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