MQS Management LLC Invests $810,000 in Textron Inc. (NYSE:TXT)

MQS Management LLC acquired a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,214 shares of the aerospace company's stock, valued at approximately $810,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. New York State Common Retirement Fund boosted its holdings in shares of Textron by 22.6% during the first quarter. New York State Common Retirement Fund now owns 536,281 shares of the aerospace company's stock valued at $38,746,000 after acquiring an additional 98,686 shares during the period. Greenleaf Trust boosted its holdings in shares of Textron by 8.9% in the first quarter. Greenleaf Trust now owns 4,611 shares of the aerospace company's stock worth $333,000 after buying an additional 376 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Textron in the first quarter worth approximately $290,000. TD Private Client Wealth LLC lifted its position in shares of Textron by 6.1% in the first quarter. TD Private Client Wealth LLC now owns 5,544 shares of the aerospace company's stock worth $401,000 after purchasing an additional 318 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Textron by 0.8% during the first quarter. Envestnet Asset Management Inc. now owns 131,973 shares of the aerospace company's stock valued at $9,535,000 after acquiring an additional 1,084 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

Textron Price Performance

Shares of Textron stock traded down $0.21 during trading on Friday, reaching $85.02. The company's stock had a trading volume of 1,167,443 shares, compared to its average volume of 1,275,854. The stock has a 50-day moving average price of $76.86 and a two-hundred day moving average price of $74.14. The company has a current ratio of 1.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The stock has a market capitalization of $15.35 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.77% and a net margin of 5.98%. The company's revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. As a group, sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron's payout ratio is 1.81%.

Analysts Set New Price Targets

Several brokerages have commented on TXT. Citigroup lowered their price target on 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 price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group restated a "neutral" rating and issued a $85.00 price objective (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Jefferies Financial Group reiterated a "buy" rating and set a $95.00 price target (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, UBS Group lifted their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.08.

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.