Stevens Capital Management LP Makes New Investment in Textron Inc. (NYSE:TXT)

Stevens Capital Management LP bought a new stake in Textron Inc. (NYSE:TXT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,238 shares of the aerospace company’s stock, valued at approximately $378,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock valued at $46,137,000 after acquiring an additional 201,696 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Textron by 31.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company’s stock valued at $2,776,000 after acquiring an additional 9,082 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Textron by 8.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 302,603 shares of the aerospace company’s stock valued at $22,916,000 after acquiring an additional 24,053 shares in the last quarter. Graham Capital Management L.P. lifted its position in shares of 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 acquiring an additional 41,888 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Textron by 12.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 89,780 shares of the aerospace company’s stock valued at $6,867,000 after acquiring an additional 9,807 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

TXT stock opened at $79.45 on Friday. The business has a fifty day moving average of $78.99 and a two-hundred day moving average of $74.71. The company has a quick ratio of 0.83, a current ratio of 1.68 and a debt-to-equity ratio of 0.41. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.17. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $93.98.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 earnings per share. As a group, research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group raised their target price on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research report on Monday, April 28th. Citigroup cut their price target on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wall Street Zen cut Textron from a “strong-buy” rating to a “buy” rating in a report on Saturday. Susquehanna increased their price target on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a report on Friday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.75.

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.