Quantbot Technologies LP Makes New Investment in Textron Inc. (NYSE:TXT)

Quantbot Technologies LP acquired a new stake in Textron Inc. (NYSE:TXT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,068 shares of the aerospace company’s stock, valued at approximately $2,221,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Textron during the 2nd quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Textron during the second quarter worth about $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron in the second quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in shares of Textron in the second quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in Textron during the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TXT. JPMorgan Chase & Co. decreased their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. TD Cowen cut Textron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Robert W. Baird lowered their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Performance

Shares of Textron stock opened at $85.08 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The firm’s 50 day moving average is $85.85 and its two-hundred day moving average is $87.16. The firm has a market capitalization of $15.78 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.54 and a beta of 1.24.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the business earned $1.49 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Research analysts forecast that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is currently 1.76%.

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.