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

QRG Capital Management Inc. increased its holdings in Textron Inc. (NYSE:TXT) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,093 shares of the aerospace company’s stock after acquiring an additional 5,300 shares during the period. QRG Capital Management Inc. owned about 0.06% of Textron worth $9,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Textron during the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Textron during the second quarter valued at approximately $30,000. Oakworth Capital Inc. purchased a new stake in shares of Textron during the second quarter valued at approximately $31,000. Family Firm Inc. purchased a new stake in shares of Textron during the second quarter valued at approximately $40,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Textron during the first quarter valued at approximately $48,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Price Performance

NYSE:TXT opened at $82.04 on Tuesday. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 1.47 and a beta of 1.24. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The stock has a fifty day moving average of $87.00 and a 200 day moving average of $87.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

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

Textron Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently commented on TXT shares. UBS Group decreased their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. 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 report on Thursday, August 8th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird reduced their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Citigroup increased their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average target price of $101.56.

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.