Stevens Capital Management LP Makes New $560,000 Investment in Textron Inc. (NYSE:TXT)

Stevens Capital Management LP purchased a new position in shares of Textron Inc. (NYSE:TXT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,962 shares of the aerospace company’s stock, valued at approximately $560,000.

Several other hedge funds also recently modified their holdings of TXT. Victory Capital Management Inc. lifted its holdings in shares of Textron by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock worth $527,948,000 after acquiring an additional 220,891 shares during the period. JPMorgan Chase & Co. raised its holdings in Textron by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after buying an additional 596,214 shares during the period. Primecap Management Co. CA raised its holdings in Textron by 9.7% in the third quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock valued at $421,503,000 after buying an additional 477,720 shares during the period. LSV Asset Management raised its holdings in Textron by 7.6% in the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after buying an additional 230,560 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Textron by 4.0% during the third quarter. Northern Trust Corp now owns 1,757,258 shares of the aerospace company’s stock valued at $137,312,000 after purchasing an additional 66,999 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on TXT shares. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. The Goldman Sachs Group raised their price target on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. UBS Group raised their price target on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Finally, Citigroup raised their price target on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and a consensus price target of $93.63.

Textron Stock Performance

Shares of TXT traded down $9.09 during midday trading on Thursday, hitting $84.92. 5,137,980 shares of the stock traded hands, compared to its average volume of 1,203,056. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $97.33. The firm has a market capitalization of $16.34 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The business’s 50 day moving average price is $92.11 and its two-hundred day moving average price is $83.81.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Equities research analysts predict that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.75%.

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.