AlphaQuest LLC Has $592,000 Stock Holdings in Textron Inc. (NYSE:TXT)

AlphaQuest LLC cut its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 82.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,735 shares of the aerospace company's stock after selling 37,343 shares during the quarter. AlphaQuest LLC's holdings in Textron were worth $592,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Empirical Finance LLC grew its position in Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock worth $624,000 after buying an additional 115 shares in the last quarter. Apollon Wealth Management LLC grew its position in Textron by 4.9% during the third 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. Pflug Koory LLC grew its position in Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock worth $1,054,000 after buying an additional 125 shares in the last quarter. V Square Quantitative Management LLC grew its position in Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after buying an additional 141 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after purchasing an additional 163 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

NYSE:TXT opened at $73.67 on Wednesday. Textron Inc. has a 1 year low of $70.14 and a 1 year high of $97.34. The firm has a 50 day moving average of $75.25 and a 200-day moving average of $81.52. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $13.38 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26.

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Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping 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 firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the company posted $1.60 EPS. Textron's revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of recent research reports. TD Cowen raised Textron to a "hold" rating in a report on Monday, February 24th. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Barclays decreased their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Finally, Citigroup decreased their price objective on Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. One 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Company 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.

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