Numerai GP LLC Acquires New Position in Textron Inc. (NYSE:TXT)

Numerai GP LLC purchased a new position in Textron Inc. (NYSE:TXT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,537 shares of the aerospace company’s stock, valued at approximately $1,647,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Textron in the fourth quarter worth about $31,000. Eastern Bank purchased a new stake in shares of Textron in the fourth quarter worth about $42,000. Optiver Holding B.V. purchased a new position in Textron during the 4th quarter valued at approximately $56,000. Golden State Wealth Management LLC bought a new stake in Textron in the 4th quarter worth approximately $63,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Textron during the 4th quarter valued at approximately $68,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXT has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price 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. Morgan Stanley dropped their price objective on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Citigroup lowered their price target on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Robert W. Baird dropped their price target on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $85.00 in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.70.

Textron Stock Down 0.3%

Shares of NYSE TXT opened at $76.55 on Wednesday. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. The firm has a 50-day simple moving average of $69.93 and a two-hundred day simple moving average of $75.74. The company has a market cap of $13.82 billion, a P/E ratio of 17.76, a PEG ratio of 1.18 and a beta of 1.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. Research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s payout ratio is 1.81%.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents a 23.03% decrease in their position. 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 insiders.

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.