MQS Management LLC Invests $352,000 in Textron Inc. (NYSE:TXT)

MQS Management LLC bought a new position in shares of Textron Inc. (NYSE:TXT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,103 shares of the aerospace company’s stock, valued at approximately $352,000.

Several other large investors have also recently bought and sold shares of TXT. Wedge Capital Management L L P NC bought a new stake in shares of Textron in the 2nd quarter worth approximately $64,319,000. Ferguson Wellman Capital Management Inc. bought a new position in Textron in the first quarter worth $45,932,000. Canada Pension Plan Investment Board boosted its stake in Textron by 1,611.9% during the first quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock worth $41,547,000 after buying an additional 407,800 shares in the last quarter. LSV Asset Management increased 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 valued at $388,809,000 after buying an additional 260,003 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Textron by 77.7% in the 4th quarter. Hsbc Holdings PLC now owns 563,031 shares of the aerospace company’s stock valued at $45,285,000 after buying an additional 246,185 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TXT. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. Bank of America increased their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup increased their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, UBS Group upped 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. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.50.

Textron Stock Performance

Shares of NYSE:TXT opened at $87.91 on Friday. The business has a fifty day moving average of $88.82 and a 200-day moving average of $89.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The firm has a market cap of $16.76 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.

Textron (NYSE:TXT) last announced its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

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

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.