Textron Inc. (TXT) Shares Sold by State Treasurer State of Michigan
State Treasurer State of Michigan trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 6.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,537 shares of the aerospace company’s stock after selling 4,500 shares during the period. State Treasurer State of Michigan’s holdings in Textron were worth $3,198,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of TXT. Essex Savings Bank purchased a new stake in Textron in the 4th quarter valued at $29,000. Dupont Capital Management Corp raised its position in Textron by 25.6% in the 4th quarter. Dupont Capital Management Corp now owns 7,350 shares of the aerospace company’s stock valued at $338,000 after buying an additional 1,497 shares during the last quarter. SG Americas Securities LLC raised its position in Textron by 74.8% in the 4th quarter. SG Americas Securities LLC now owns 41,729 shares of the aerospace company’s stock valued at $1,919,000 after buying an additional 17,858 shares during the last quarter. Intercontinental Wealth Advisors LLC purchased a new stake in Textron in the 4th quarter valued at $61,000. Finally, Advisors Asset Management Inc. raised its position in Textron by 2.2% in the 4th quarter. Advisors Asset Management Inc. now owns 43,668 shares of the aerospace company’s stock valued at $2,008,000 after buying an additional 923 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.
A number of research firms recently commented on TXT. Zacks Investment Research lowered Textron from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. TheStreet raised Textron from a “c+” rating to a “b” rating in a research report on Thursday, January 31st. ValuEngine raised Textron from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Susquehanna Bancshares began coverage on Textron in a research report on Thursday, January 10th. They issued a “neutral” rating and a $52.00 price target for the company. Finally, Jefferies Financial Group set a $59.00 price target on Textron and gave the company a “buy” rating in a research report on Tuesday, January 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $68.25.
Textron (NYSE:TXT) last announced its earnings results on Thursday, January 24th. The aerospace company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.17. Textron had a return on equity of 15.51% and a net margin of 8.75%. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the firm posted $0.74 EPS. The business’s revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that Textron Inc. will post 3.65 EPS for the current fiscal year.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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