Versor Investments LP Makes New Investment in Textron Inc. (NYSE:TXT)

Versor Investments LP purchased a new position in Textron Inc. (NYSE:TXT - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,400 shares of the aerospace company's stock, valued at approximately $655,000.

Several other institutional investors have also recently added to or reduced their stakes in TXT. Empowered Funds LLC acquired a new position in Textron in the first quarter worth $916,000. Oppenheimer & Co. Inc. grew its position in shares of Textron by 11.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,215 shares of the aerospace company's stock valued at $404,000 after buying an additional 439 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Textron during the first quarter worth about $338,000. US Bancorp DE grew its holdings in shares of Textron by 11.8% during the first quarter. US Bancorp DE now owns 26,416 shares of the aerospace company's stock valued at $2,534,000 after purchasing an additional 2,785 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Textron by 3.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 272,893 shares of the aerospace company's stock worth $26,179,000 after purchasing an additional 8,919 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Down 1.7 %

Shares of NYSE:TXT traded down $1.47 on Thursday, reaching $86.10. The company had a trading volume of 1,264,774 shares, compared to its average volume of 1,085,296. The stock has a market capitalization of $15.97 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.57 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $86.41 and a 200 day moving average price of $87.30. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last released its earnings results 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 analyst estimates of $3.50 billion. During the same period last year, the business earned $1.49 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued 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 of this dividend is Friday, December 13th. Textron's payout ratio is 1.76%.

Analyst Upgrades and Downgrades

TXT has been the subject of a number of recent research reports. TD Cowen downgraded Textron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. cut their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. Robert W. Baird decreased their target price on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Citigroup raised their price target on shares of Textron from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Finally, Bank of America boosted their price objective on Textron from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $101.56.

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.