AQR Capital Management LLC Buys 231,173 Shares of Textron Inc. (NYSE:TXT)

AQR Capital Management LLC lifted its stake in Textron Inc. (NYSE:TXT) by 18.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,451,293 shares of the aerospace company’s stock after buying an additional 231,173 shares during the quarter. AQR Capital Management LLC owned about 0.76% of Textron worth $124,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. raised its stake in Textron by 263.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock worth $1,283,000 after acquiring an additional 9,692 shares during the period. Studio Investment Management LLC bought a new stake in shares of Textron during the 4th quarter valued at $1,223,000. SG Americas Securities LLC lifted its stake in shares of Textron by 461.1% during the 1st quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock valued at $11,248,000 after buying an additional 96,361 shares in the last quarter. LSV Asset Management boosted 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 buying an additional 260,003 shares during the period. Finally, Cetera Investment Advisers increased its stake in Textron by 579.5% in the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after buying an additional 43,225 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on TXT shares. Bank of America increased their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $103.00 to $95.00 in a report on Wednesday. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group lifted their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Finally, Morgan Stanley downgraded shares of 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. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Textron presently has an average rating of “Hold” and an average price target of $101.50.

Textron Price Performance

TXT stock opened at $86.53 on Friday. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The firm has a market capitalization of $16.21 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The company has a fifty day simple moving average of $88.32 and a two-hundred day simple moving average of $89.20. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating 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 firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that Textron Inc. will post 6.26 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business 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. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio is currently 1.71%.

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.