Published on 7 Feb 2022 on Insider Monkey via Yahoo Finance

Did The Smart Money Get Textron Inc. (TXT) Right?

Stocks, especially the once high flying technology stocks, had a lousy start to the new year. QQQ lost 9% of its value in January. We aren't certain about the bubbly technology stocks that trade for ridiculously high multiples of their revenues, but we believe top hedge fund stocks will deliver positive returns for the rest of the year. In this article, we will take a closer look at hedge fund sentiment towards Textron Inc. (NYSE:TXT) at the end of the third quarter and determine whether the smart money was really smart about this stock.

Textron Inc. (NYSE:TXT) was in 31 hedge funds' portfolios at the end of September. The all time high for this statistic is 32. TXT investors should be aware of an increase in hedge fund sentiment of late. There were 22 hedge funds in our database with TXT holdings at the end of June. Our calculations also showed that TXT isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings).

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium prices have more than doubled over the past year, so we go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. Keeping this in mind let's take a peek at the key hedge fund action regarding Textron Inc. (NYSE:TXT).