ClearAlpha Technologies LP Buys Shares of 3,508 Textron Inc. (NYSE:TXT)

ClearAlpha Technologies LP purchased a new position in shares of Textron Inc. (NYSE:TXT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,508 shares of the aerospace company’s stock, valued at approximately $311,000.

Several other institutional investors have also modified their holdings of TXT. Innealta Capital LLC acquired a new stake in Textron during the 2nd quarter worth approximately $25,000. True Wealth Design LLC acquired a new stake in shares of Textron during the third quarter worth $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Textron in the 2nd quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in Textron in the 2nd quarter worth $31,000. Finally, Family Firm Inc. bought a new position in Textron during the 2nd quarter worth about $40,000. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Cowen cut Textron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Robert W. Baird reduced their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, UBS Group lowered their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Stock Performance

Shares of TXT opened at $85.44 on Tuesday. The company has a market cap of $15.85 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25. The firm has a 50-day moving average of $85.73 and a 200-day moving average of $87.11. Textron Inc. has a one year low of $75.70 and a one 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 posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the business posted $1.49 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts forecast that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Announces Dividend

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

Textron 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.