Quest Partners LLC Acquires Shares of 45,078 Textron Inc. (NYSE:TXT)

Quest Partners LLC purchased a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 45,078 shares of the aerospace company's stock, valued at approximately $3,993,000. Textron makes up about 0.4% of Quest Partners LLC's investment portfolio, making the stock its 13th biggest position.

Several other hedge funds have also recently bought and sold shares of the business. Cetera Investment Advisers lifted its position in shares of Textron by 579.5% in the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company's stock worth $4,862,000 after acquiring an additional 43,225 shares during the period. Virtu Financial LLC lifted its holdings in shares of Textron by 259.2% during the first quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company's stock valued at $1,666,000 after acquiring an additional 12,532 shares during the period. Easterly Investment Partners LLC grew its holdings in shares of Textron by 87.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company's stock worth $3,659,000 after purchasing an additional 19,304 shares during the last quarter. Atria Investments Inc bought a new position in Textron during the 1st quarter valued at about $1,204,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in Textron by 13.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company's stock valued at $43,884,000 after buying an additional 57,967 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on TXT shares. UBS Group dropped their target price on shares of Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research note on Friday, October 25th. Morgan Stanley cut Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price target on the stock. in a report on Thursday, August 8th. StockNews.com cut Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. Bank of America lifted their price target on shares of Textron from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird lowered their price target on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Textron has an average rating of "Moderate Buy" and a consensus target price of $101.56.

Textron Stock Down 1.8 %

Shares of Textron stock traded down $1.57 during trading hours on Monday, reaching $83.34. 1,336,798 shares of the company's stock were exchanged, compared to its average volume of 1,086,642. The stock has a market cap of $15.46 billion, a P/E ratio of 18.32, a P/E/G ratio of 1.53 and a beta of 1.24. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a 50 day moving average of $86.32 and a two-hundred day moving average of $87.31. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (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 business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the firm earned $1.49 EPS. The business's revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron's dividend payout ratio is 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.