Quantinno Capital Management LP Sells 16,831 Shares of Textron Inc. (NYSE:TXT)

Quantinno Capital Management LP cut its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 40.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,447 shares of the aerospace company's stock after selling 16,831 shares during the quarter. Quantinno Capital Management LP's holdings in Textron were worth $1,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Mufg Securities Americas Inc. purchased a new stake in Textron during the 4th quarter valued at about $210,000. Nomura Holdings Inc. purchased a new stake in Textron during the 4th quarter valued at about $468,000. Numerai GP LLC purchased a new stake in Textron in the 4th quarter worth approximately $1,647,000. Occudo Quantitative Strategies LP purchased a new stake in Textron in the 4th quarter worth approximately $527,000. Finally, Millennium Management LLC lifted its holdings in Textron by 13.3% in the 4th quarter. Millennium Management LLC now owns 486,680 shares of the aerospace company's stock worth $37,226,000 after buying an additional 57,275 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Citigroup reduced their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. TD Cowen upgraded shares of Textron to a "hold" rating in a report on Monday, February 24th. UBS Group lifted their price objective on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday, April 28th. Finally, Bank of America lowered Textron from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Textron currently has a consensus rating of "Hold" and an average target price of $87.70.

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Stock Down 0.6%

Shares of NYSE TXT traded down $0.46 on Friday, reaching $73.02. 804,249 shares of the company's stock traded hands, compared to its average volume of 1,216,002. The business's 50 day simple moving average is $70.10 and its two-hundred day simple moving average is $75.40. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. As a group, equities research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's payout ratio is 1.81%.

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.