Textron Inc. (NYSE:TXT) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in Textron Inc. (NYSE:TXT) by 3.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 106,793 shares of the aerospace company’s stock after acquiring an additional 3,864 shares during the quarter. QRG Capital Management Inc. owned about 0.06% of Textron worth $9,169,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management lifted its position in Textron by 15.9% in the fourth quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after acquiring an additional 521,276 shares during the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Textron in the 1st quarter valued at about $45,932,000. Brandes Investment Partners LP grew its stake in Textron by 49.3% during the 4th quarter. Brandes Investment Partners LP now owns 1,235,966 shares of the aerospace company’s stock worth $99,396,000 after buying an additional 408,290 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Textron by 1,611.9% during the first quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock worth $41,547,000 after buying an additional 407,800 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Textron during the fourth quarter worth approximately $31,713,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Activity

In other news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the sale, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Textron Price Performance

Shares of NYSE:TXT traded up $0.35 during trading on Friday, hitting $85.13. 796,142 shares of the stock were exchanged, compared to its average volume of 1,124,420. Textron Inc. has a 12-month low of $73.78 and a 12-month high of $97.33. The company has a market cap of $16.23 billion, a PE ratio of 18.19, a P/E/G ratio of 1.35 and a beta of 1.25. The company has a fifty day moving average price of $87.65 and a two-hundred day moving average price of $88.97. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the business earned $1.46 earnings per share. Textron’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Textron Inc. will post 6.26 EPS for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s payout ratio is currently 1.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Susquehanna reduced their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, April 26th. Citigroup raised their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. UBS Group upped their price objective on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. Finally, Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.50.

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.