Quantbot Technologies LP Sells 25,632 Shares of Textron Inc. $TXT

Key Points

• Quantbot Technologies LP reduced its holdings of Textron Inc. by 19.9%, selling 25,632 shares during the 1st quarter, leaving them with approximately 0.06% of the company valued at about $7.47 million.
• Textron's recent earnings report showed an EPS of $1.55, which exceeded analysts' expectations of $1.45, and the company’s revenue grew by 5.4% year-over-year, reaching $3.72 billion.
• Several brokerages have upgraded their price targets for Textron, with Jefferies Financial Group raising its target to $95.00 and Barclays increasing it to $105.00, reflecting a bullish sentiment around the company's performance.

Quantbot Technologies LP lowered its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 19.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,386 shares of the aerospace company's stock after selling 25,632 shares during the period. Quantbot Technologies LP owned approximately 0.06% of Textron worth $7,470,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TXT. Syon Capital LLC lifted its position in Textron by 4.5% during the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock valued at $271,000 after purchasing an additional 153 shares during the period. Brooklyn Investment Group increased its stake in shares of Textron by 10.3% in the first quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company's stock worth $120,000 after purchasing an additional 156 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Textron by 7.4% in the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after purchasing an additional 197 shares in the last quarter. Transce3nd LLC boosted its position in shares of Textron by 14.0% during the first quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock worth $116,000 after acquiring an additional 199 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Textron by 22.9% in the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after purchasing an additional 208 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the sale, the executive vice president owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on TXT. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and upped their price target for the company from $73.00 to $88.00 in a report on Monday, July 28th. Morgan Stanley upped their price target on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Barclays upped their price target on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Textron has an average rating of "Moderate Buy" and an average target price of $92.67.

Textron Trading Down 1.7%

Shares of TXT opened at $78.95 on Monday. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $91.48. The company has a 50-day moving average of $80.18 and a 200 day moving average of $74.72. The firm has a market capitalization of $14.07 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the business posted $1.54 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron's dividend payout ratio is presently 1.81%.

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.

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