Quantbot Technologies LP Buys 103,950 Shares of Textron Inc. (NYSE:TXT)

Quantbot Technologies LP raised its stake in shares of Textron Inc. (NYSE:TXT) by 414.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 129,018 shares of the aerospace company’s stock after purchasing an additional 103,950 shares during the period. Quantbot Technologies LP’s holdings in Textron were worth $9,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Atria Investments Inc boosted its position in shares of Textron by 2.5% in the third quarter. Atria Investments Inc now owns 12,282 shares of the aerospace company’s stock worth $1,088,000 after purchasing an additional 299 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after buying an additional 232 shares in the last quarter. Versor Investments LP bought a new position in Textron in the 3rd quarter worth $655,000. Apollon Wealth Management LLC increased its stake in Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after buying an additional 125 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Textron by 144.3% during the third quarter. GSA Capital Partners LLP now owns 13,862 shares of the aerospace company’s stock valued at $1,228,000 after acquiring an additional 8,188 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE:TXT opened at $72.03 on Friday. The firm has a market capitalization of $13.08 billion, a PE ratio of 16.71, a PEG ratio of 1.18 and a beta of 1.26. The stock’s fifty day moving average is $75.18 and its 200 day moving average is $81.46. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TXT shares. Morgan Stanley dropped their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird dropped their price target on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. cut their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Citigroup lowered their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Susquehanna cut their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average target price of $93.45.

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.