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

Quantbot Technologies LP acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,068 shares of the aerospace company's stock, valued at approximately $2,221,000.

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

Textron Stock Performance

Shares of TXT traded up $0.55 during trading hours on Friday, reaching $85.63. 587,996 shares of the company's stock traded hands, compared to its average volume of 1,083,339. Textron Inc. has a twelve month low of $74.61 and a twelve month high of $97.33. The business's fifty day simple moving average is $85.77 and its two-hundred day simple moving average is $87.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The firm has a market capitalization of $15.89 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.53 and a beta of 1.24.

Textron (NYSE:TXT - Get Free Report) last released its quarterly 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). The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.49 earnings per share. Analysts predict that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. StockNews.com cut shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. UBS Group decreased their target price on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research note on Friday, October 25th. TD Cowen cut Textron from a "buy" rating to a "hold" rating and dropped their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, Morgan Stanley lowered Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $101.56.

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.