Textron Inc. (NYSE:TXT) Stake Decreased by AQR Capital Management LLC

AQR Capital Management LLC reduced its stake in shares of Textron Inc. (NYSE:TXT) by 11.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,087,662 shares of the aerospace company’s stock after selling 259,532 shares during the period. AQR Capital Management LLC owned about 0.78% of Textron worth $99,352,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TXT. Global X Management Co. LLC increased its position in Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock valued at $125,000 after buying an additional 607 shares during the period. Financial Architects Inc acquired a new position in Textron during the first quarter valued at approximately $126,000. Koch Industries Inc. acquired a new position in Textron during the first quarter valued at approximately $203,000. Sowell Financial Services LLC acquired a new position in Textron during the fourth quarter valued at approximately $209,000. Finally, Two Sigma Securities LLC acquired a new position in Textron during the first quarter valued at approximately $210,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Shares of Textron Inc. (NYSE TXT) traded up 1.33% during midday trading on Friday, reaching $48.06. 1,168,038 shares of the company’s stock were exchanged. Textron Inc. has a 12 month low of $35.06 and a 12 month high of $50.93. The firm has a 50 day moving average price of $47.16 and a 200 day moving average price of $47.73. The company has a market cap of $12.87 billion, a P/E ratio of 14.33 and a beta of 1.56.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, April 19th. The aerospace company reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.16 billion. Textron had a return on equity of 12.53% and a net margin of 6.67%. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS. Equities research analysts forecast that Textron Inc. will post $2.52 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Friday, June 9th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Wednesday, June 7th. Textron’s payout ratio is presently 2.39%.

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Several equities analysts recently commented on the stock. Credit Suisse Group restated a “buy” rating and issued a $50.00 price target on shares of Textron in a research note on Tuesday, April 11th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price target on shares of Textron in a research note on Thursday, May 18th. Stephens assumed coverage on shares of Textron in a research note on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 price target on the stock. Cowen and Company restated an “outperform” rating and issued a $60.00 price target on shares of Textron in a research note on Saturday, April 22nd. Finally, BidaskClub downgraded shares of Textron from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.75.

About Textron

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

Institutional Ownership by Quarter for Textron (NYSE:TXT)

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