Quest Partners LLC Makes New Investment in Textron Inc. (NYSE:TXT)

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

Other large investors have also modified their holdings of the company. Blair William & Co. IL raised its stake in Textron by 6.5% during the first quarter. Blair William & Co. IL now owns 5,364 shares of the aerospace company’s stock worth $515,000 after purchasing an additional 326 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Textron by 111.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 249,612 shares of the aerospace company’s stock valued at $23,856,000 after acquiring an additional 131,782 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Textron during the first quarter valued at about $1,061,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Textron by 7.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,231 shares of the aerospace company’s stock worth $1,653,000 after purchasing an additional 1,229 shares during the period. Finally, UniSuper Management Pty Ltd lifted its stake in shares of Textron by 420.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 12,371 shares of the aerospace company’s stock valued at $1,187,000 after purchasing an additional 9,996 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TXT shares. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Robert W. Baird cut their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. lowered their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. 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 data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Trading Down 1.4 %

Shares of TXT opened at $84.91 on Monday. Textron Inc. has a one year low of $74.13 and a one year high of $97.33. The stock has a 50-day moving average price of $86.39 and a 200 day moving average price of $87.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The company has a market capitalization of $15.75 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.53 and a beta of 1.24.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). The company had revenue of $3.43 billion during 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 company’s revenue 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. Sell-side analysts forecast that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s payout ratio is currently 1.76%.

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.