QRG Capital Management Inc. Has $9.17 Million Stock Position in Textron Inc. (NYSE:TXT)

QRG Capital Management Inc. increased its stake in shares of Textron Inc. (NYSE:TXT) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,793 shares of the aerospace company’s stock after purchasing an additional 3,864 shares during the period. QRG Capital Management Inc.’s holdings in Textron were worth $9,169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TXT. LSV Asset Management boosted its stake in Textron by 15.9% during the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after acquiring an additional 521,276 shares during the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in Textron in the first quarter worth $45,932,000. Brandes Investment Partners LP boosted its position in shares of Textron by 49.3% during the fourth quarter. Brandes Investment Partners LP now owns 1,235,966 shares of the aerospace company’s stock worth $99,396,000 after purchasing an additional 408,290 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of 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 valued at $41,547,000 after buying an additional 407,800 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Textron in the 4th quarter valued at $31,713,000. 86.03% of the stock is owned by institutional investors.

Textron Stock Up 0.4 %

TXT stock traded up $0.35 during midday trading on Friday, hitting $85.13. The company’s stock had a trading volume of 796,142 shares, compared to its average volume of 1,124,420. The company’s fifty day moving average price is $87.65 and its 200 day moving average price is $88.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. Textron Inc. has a twelve month low of $73.78 and a twelve month high of $97.33. The stock has a market capitalization of $16.23 billion, a P/E ratio of 18.19, a PEG ratio of 1.35 and a beta of 1.25.

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

Textron Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Morgan Stanley lowered 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. UBS Group raised their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. Citigroup upped their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Insiders Place Their Bets

In other news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the transaction, the director now owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Textron 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.