Stevens Capital Management LP Takes Position in Textron Inc. (NYSE:TXT)

Key Points

• Stevens Capital Management LP has acquired a new stake in Textron Inc., purchasing 5,238 shares valued at approximately $378,000 during the first quarter.
• Multiple institutional investors have increased their positions in Textron, with Wellington Management Group enhancing its stake by 50.2% in the fourth quarter.
• Textron recently reported earnings of $1.55 EPS, surpassing expectations and showing a 5.4% revenue growth year-over-year.

Stevens Capital Management LP purchased a new stake in Textron Inc. (NYSE:TXT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,238 shares of the aerospace company's stock, valued at approximately $378,000.

Several other large investors have also recently modified their holdings of the stock. Syon Capital LLC increased its position in shares of Textron by 4.5% during the 4th 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 last quarter. Motley Fool Asset Management LLC boosted its position in shares of Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after acquiring an additional 163 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Textron by 7.4% during the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock valued at $207,000 after buying an additional 197 shares during the period. Transce3nd LLC increased its stake in shares of Textron by 14.0% during the first quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock valued at $116,000 after buying an additional 199 shares during the period. Finally, Parallel Advisors LLC grew its stake in Textron by 22.9% in the first quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock valued at $81,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insider Activity

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on TXT shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $85.00 price target (down from $95.00) on shares of Textron in a report on Tuesday, July 1st. Susquehanna increased their target price on Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. UBS Group raised Textron from a "sell" rating to a "neutral" rating and increased their price target for the company from $73.00 to $88.00 in a research report on Monday. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 target price (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Wall Street Zen cut Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $92.67.

Textron Price Performance

Shares of NYSE:TXT traded down $0.19 during trading on Wednesday, reaching $77.96. The stock had a trading volume of 482,827 shares, compared to its average volume of 1,540,214. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. The business's 50-day moving average price is $79.07 and its 200 day moving average price is $74.73. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $93.98. The stock has a market capitalization of $14.07 billion, a PE ratio of 17.61, a P/E/G ratio of 1.28 and a beta of 1.17.

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

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.