Textron Inc. $TXT Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its holdings in Textron Inc. by 23.3%, selling 332,138 shares and now owns approximately 1,091,406 shares worth about $78.85 million.
• Textron reported earnings of $1.55 per share, outperforming analyst estimates and achieving year-over-year revenue growth of 5.4% during the last quarter.
• The firm announced a quarterly dividend of $0.02 per share, with a low annualized yield of 0.1%, payable on October 1st to shareholders of record.

AQR Capital Management LLC lowered its position in Textron Inc. (NYSE:TXT - Free Report) by 23.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,091,406 shares of the aerospace company's stock after selling 332,138 shares during the quarter. AQR Capital Management LLC owned about 0.60% of Textron worth $78,854,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TXT. Cambridge Investment Research Advisors Inc. grew its stake in shares of Textron by 31.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company's stock valued at $2,776,000 after buying an additional 9,082 shares during the period. Graham Capital Management L.P. grew its position in Textron by 166.8% in the fourth quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company's stock worth $5,125,000 after acquiring an additional 41,888 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Textron by 16.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company's stock worth $1,474,000 after acquiring an additional 2,803 shares during the last quarter. LPL Financial LLC raised its position in Textron by 4.9% in the first quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company's stock valued at $6,483,000 after purchasing an additional 4,204 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Textron in the 1st quarter valued at $545,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the sale, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TXT has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a "buy" rating and set a $95.00 price objective (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Morgan Stanley increased their target price on shares of Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Susquehanna boosted their price target on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Barclays increased their price objective on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $85.00 target price (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $92.67.

Textron Stock Up 0.1%

NYSE TXT traded up $0.06 during trading hours on Wednesday, hitting $80.59. 450,914 shares of the company were exchanged, compared to its average volume of 1,501,213. The company has a 50 day moving average of $80.98 and a two-hundred day moving average of $75.51. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm has a market cap of $14.36 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.35 and a beta of 1.14. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $91.30.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.10. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron's payout ratio is 1.81%.

Textron Company 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.