Occudo Quantitative Strategies LP Acquires New Holdings in Textron Inc. (NYSE:TXT)

Occudo Quantitative Strategies LP bought a new position in Textron Inc. (NYSE:TXT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,895 shares of the aerospace company's stock, valued at approximately $527,000.

Several other hedge funds have also modified their holdings of TXT. Millennium Management LLC increased its position in shares of Textron by 13.3% during the fourth quarter. Millennium Management LLC now owns 486,680 shares of the aerospace company's stock worth $37,226,000 after purchasing an additional 57,275 shares in the last quarter. Janus Henderson Group PLC increased its position in Textron by 2.9% during the 4th quarter. Janus Henderson Group PLC now owns 14,982 shares of the aerospace company's stock valued at $1,145,000 after buying an additional 425 shares in the last quarter. Graham Capital Management L.P. raised its stake in Textron by 166.8% in the fourth quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company's stock valued at $5,125,000 after buying an additional 41,888 shares during the last quarter. Focus Partners Wealth boosted its holdings in Textron by 6.1% in the fourth quarter. Focus Partners Wealth now owns 4,079 shares of the aerospace company's stock worth $312,000 after acquiring an additional 233 shares in the last quarter. Finally, Fullerton Fund Management Co Ltd. acquired a new stake in Textron in the fourth quarter worth about $612,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value 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. This trade represents a 23.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.

Textron Stock Down 1.7%

TXT opened at $75.25 on Thursday. The company has a market cap of $13.59 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. The firm has a 50 day moving average price of $69.92 and a 200 day moving average price of $75.74.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the business posted $1.20 EPS. The company's revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on TXT shares. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. UBS Group boosted their price objective on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. TD Cowen upgraded Textron to a "hold" rating in a report on Monday, February 24th. Finally, Robert W. Baird lowered their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $87.70.

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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