QRG Capital Management Inc. Buys 5,300 Shares of Textron Inc. (NYSE:TXT)

QRG Capital Management Inc. lifted its stake in Textron Inc. (NYSE:TXT) by 5.0% during the third quarter, HoldingsChannel.com reports. The firm owned 112,093 shares of the aerospace company’s stock after purchasing an additional 5,300 shares during the quarter. QRG Capital Management Inc.’s holdings in Textron were worth $9,929,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TXT. Wedge Capital Management L L P NC purchased a new position in Textron in the 2nd quarter worth approximately $64,319,000. Canada Pension Plan Investment Board raised its holdings in Textron by 1,611.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock worth $41,547,000 after acquiring an additional 407,800 shares during the last quarter. LSV Asset Management raised its holdings in Textron by 6.9% in the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after acquiring an additional 260,003 shares during the last quarter. Brandes Investment Partners LP raised its holdings in Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after acquiring an additional 258,778 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after acquiring an additional 231,173 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Textron Trading Up 0.7 %

Shares of Textron stock opened at $82.04 on Tuesday. The company has a market capitalization of $15.22 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.47 and a beta of 1.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The company has a fifty day moving average of $87.00 and a 200 day moving average of $87.57. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the company earned $1.49 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio is 1.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TXT. UBS Group decreased their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. decreased their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Bank of America boosted their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird decreased their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One research analyst has 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Company 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.