Quest Partners LLC Takes Position in Textron Inc. (NYSE:TXT)

Quest Partners LLC acquired a new position in shares of Textron Inc. (NYSE:TXT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 45,078 shares of the aerospace company’s stock, valued at approximately $3,993,000. Textron accounts for 0.4% of Quest Partners LLC’s portfolio, making the stock its 13th biggest position.

A number of other large investors have also recently bought and sold shares of the business. Boston Partners boosted its holdings in shares of Textron by 1.4% during the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock valued at $682,475,000 after acquiring an additional 99,868 shares during the period. Dimensional Fund Advisors LP boosted its stake in Textron by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after purchasing an additional 160,923 shares during the period. Brandes Investment Partners LP grew its position in Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after purchasing an additional 258,778 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after purchasing an additional 231,173 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Textron by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock valued at $120,099,000 after buying an additional 6,175 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of NYSE TXT opened at $84.91 on Monday. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $86.39 and a two-hundred day moving average of $87.33. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.53 and a beta of 1.24.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.49 earnings per share. As a group, analysts expect that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio is presently 1.76%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TXT shares. Citigroup lifted their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Robert W. Baird dropped their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Company 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.