AQR Capital Management LLC Has $99.35 Million Stake in Textron Inc. (TXT)

AQR Capital Management LLC reduced its stake in Textron Inc. (NYSE:TXT) by 11.1% during the first quarter, according to its most recent disclosure 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 0.78% of Textron worth $99,352,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of Textron during the fourth quarter valued at about $13,548,000. Mason Street Advisors LLC increased its stake in shares of Textron by 1.0% in the first quarter. Mason Street Advisors LLC now owns 37,324 shares of the aerospace company’s stock valued at $1,776,000 after buying an additional 361 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Textron by 0.5% in the first quarter. Bank of Montreal Can now owns 132,775 shares of the aerospace company’s stock valued at $6,317,000 after buying an additional 644 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Textron by 1.3% in the first quarter. Pictet Asset Management Ltd. now owns 137,288 shares of the aerospace company’s stock valued at $6,534,000 after buying an additional 1,700 shares during the last quarter. Finally, Flinton Capital Management LLC increased its stake in shares of Textron by 2.2% in the first quarter. Flinton Capital Management LLC now owns 12,410 shares of the aerospace company’s stock valued at $590,000 after buying an additional 272 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Textron (NYSE:TXT)

Shares of Textron Inc. (NYSE TXT) traded up 1.39% during trading on Monday, hitting $48.10. 1,262,069 shares of the stock were exchanged. The company’s market cap is $12.88 billion. Textron Inc. has a one year low of $34.00 and a one year high of $50.93. The stock’s 50 day moving average price is $47.17 and its 200-day moving average price is $47.80.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, April 19th. The aerospace company reported $0.46 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.46. Textron had a net margin of 6.67% and a return on equity of 12.53%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm posted $0.55 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, analysts predict that Textron Inc. will post $2.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 9th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Wednesday, June 7th. Textron’s dividend payout ratio is presently 2.39%.

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TXT has been the subject of several analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Textron in a research note on Tuesday, March 21st. Credit Suisse Group reissued a “buy” rating and issued a $50.00 price objective on shares of Textron in a research note on Wednesday, May 24th. Stephens initiated coverage on shares of Textron in a research note on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 price objective for the company. Finally, Cowen and Company reissued an “outperform” rating and issued a $60.00 price objective on shares of Textron in a research note on Saturday, April 22nd. Two equities research analysts have 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. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.22.

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.

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