Stevens Capital Management LP Purchases Shares of 6,962 Textron Inc. (NYSE:TXT)

Stevens Capital Management LP purchased a new stake in Textron Inc. (NYSE:TXT) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 6,962 shares of the aerospace company’s stock, valued at approximately $560,000.

A number of other large investors have also recently made changes to their positions in TXT. CVA Family Office LLC purchased a new position in shares of Textron during the 4th quarter worth about $29,000. Global Retirement Partners LLC boosted its holdings in Textron by 393.9% during the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after buying an additional 390 shares in the last quarter. Trust Co. of Vermont purchased a new position in Textron during the third quarter valued at $37,000. Provence Wealth Management Group purchased a new position in Textron during the third quarter valued at $39,000. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Textron in the fourth quarter valued at about $40,000. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

Shares of Textron stock traded down $9.09 during trading on Thursday, reaching $84.92. The company’s stock had a trading volume of 5,137,980 shares, compared to its average volume of 1,203,056. The company has a 50-day moving average price of $92.11 and a two-hundred day moving average price of $83.81. The firm has a market cap of $16.34 billion, a PE ratio of 18.58, a P/E/G ratio of 1.50 and a beta of 1.30. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. On average, analysts forecast that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.75%.

Wall Street Analysts Forecast Growth

TXT has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Citigroup lifted their price target on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group lifted their price target on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.63.

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.