Ontario Teachers Pension Plan Board Has $2.70 Million Position in Textron Inc. (NYSE:TXT)

Ontario Teachers Pension Plan Board lowered its position in Textron Inc. (NYSE:TXT) by 19.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,118 shares of the aerospace company’s stock after selling 6,884 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Textron were worth $2,697,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its holdings in Textron by 21.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company’s stock valued at $344,000 after purchasing an additional 779 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Textron during the fourth quarter valued at approximately $252,000. Advisor Resource Council acquired a new position in Textron during the fourth quarter valued at approximately $202,000. HFG Advisors Inc. acquired a new position in Textron during the fourth quarter valued at approximately $245,000. Finally, SG Americas Securities LLC grew its holdings in Textron by 269.1% during the fourth quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock valued at $1,680,000 after purchasing an additional 15,235 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TXT. The Goldman Sachs Group raised their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. UBS Group raised their target price on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday. Susquehanna reduced their target price on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Citigroup lifted their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday. Finally, StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and an average price target of $101.00.

Textron Trading Up 1.6 %

TXT stock traded up $1.49 during midday trading on Monday, reaching $91.82. The stock had a trading volume of 1,105,376 shares, compared to its average volume of 1,140,891. The firm has a market cap of $17.51 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.43 and a beta of 1.25. Textron Inc. has a twelve month low of $67.04 and a twelve month high of $97.33. The business has a fifty day simple moving average of $87.36 and a two-hundred day simple moving average of $87.94. The company has a quick ratio of 0.84, a current ratio of 1.64 and a debt-to-equity ratio of 0.42.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 EPS. As a group, research analysts expect that Textron Inc. will post 6.29 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Friday, June 14th. Textron’s dividend payout ratio (DPR) is presently 1.71%.

Insider Activity

In other news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the transaction, the director now owns 3,756 shares in the company, valued at approximately $330,189.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

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.