Qtron Investments LLC Decreases Stake in Textron Inc. (NYSE:TXT)

Qtron Investments LLC reduced its position in shares of Textron Inc. (NYSE:TXT) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,961 shares of the aerospace company’s stock after selling 1,159 shares during the period. Qtron Investments LLC’s holdings in Textron were worth $762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TXT. Invesco Ltd. increased its holdings in shares of Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock valued at $591,523,000 after acquiring an additional 1,167,105 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Textron in the fourth quarter valued at approximately $41,451,000. Boston Partners raised its holdings in Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after buying an additional 302,712 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Textron by 50.2% in the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock valued at $46,137,000 after buying an additional 201,696 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of research reports. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Robert W. Baird reduced their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley cut their price target on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.09.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.70% of the company’s stock.

Textron Price Performance

Shares of NYSE TXT opened at $65.64 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The stock has a fifty day moving average price of $71.70 and a 200 day moving average price of $78.47. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $95.86. The company has a market cap of $11.92 billion, a PE ratio of 15.23, a P/E/G ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS 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 company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the business earned $1.60 EPS. The business’s revenue was down 7.2% on a year-over-year basis. Sell-side analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s dividend payout ratio is presently 1.86%.

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.