Versor Investments LP Invests $655,000 in Textron Inc. (NYSE:TXT)

Versor Investments LP bought a new stake in Textron Inc. (NYSE:TXT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,400 shares of the aerospace company’s stock, valued at approximately $655,000.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of Textron during the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Textron during the 2nd quarter worth about $30,000. Oakworth Capital Inc. acquired a new stake in shares of Textron in the 2nd quarter valued at $31,000. Family Firm Inc. bought a new stake in Textron during the second quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Textron in the third quarter worth about $42,000. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

TXT opened at $87.57 on Thursday. The business has a fifty day simple moving average of $86.43 and a 200 day simple moving average of $87.31. The company has a market capitalization of $16.25 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT) last issued 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 the consensus estimate of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 earnings per share. Research analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is 1.76%.

Analyst Upgrades and Downgrades

TXT has been the subject of several recent research reports. JPMorgan Chase & Co. cut 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. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Robert W. Baird lowered their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $101.56.

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.