AQR Capital Management LLC Trims Position in Textron Inc. (NYSE:TXT)

AQR Capital Management LLC reduced its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,423,544 shares of the aerospace company's stock after selling 246,126 shares during the quarter. AQR Capital Management LLC owned approximately 0.77% of Textron worth $108,887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. lifted its holdings in Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after buying an additional 1,167,105 shares during the period. Boston Partners raised its position in shares of Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after acquiring an additional 333,127 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Textron by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock valued at $350,619,000 after purchasing an additional 164,964 shares during the period. Brandes Investment Partners LP boosted its position in shares of Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after purchasing an additional 302,712 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Textron by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock worth $137,971,000 after purchasing an additional 155,384 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Textron Trading Up 1.0 %

Textron stock opened at $70.05 on Wednesday. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The business's fifty day moving average is $70.11 and its 200 day moving average is $76.80. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The stock has a market capitalization of $12.72 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The business's revenue for the quarter was up 5.5% on a year-over-year basis. On average, sell-side analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron's dividend payout ratio (DPR) is currently 1.81%.

Wall Street Analyst Weigh In

TXT has been the topic of a number of research reports. TD Cowen upgraded shares of Textron to a "hold" rating in a report on Monday, February 24th. Citigroup cut their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Morgan Stanley lowered their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Susquehanna cut their price target on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Textron presently has an average rating of "Hold" and a consensus price target of $87.70.

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.

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