QRG Capital Management Inc. Trims Holdings in Textron Inc. (NYSE:TXT)

QRG Capital Management Inc. cut its holdings in Textron Inc. (NYSE:TXT - Free Report) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,591 shares of the aerospace company's stock after selling 6,473 shares during the quarter. QRG Capital Management Inc.'s holdings in Textron were worth $6,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Textron by 50.2% in the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock worth $46,137,000 after buying an additional 201,696 shares during the period. Todd Asset Management LLC grew its position in shares of Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock worth $35,973,000 after buying an additional 8,198 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Textron by 8.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 302,603 shares of the aerospace company's stock worth $22,916,000 after buying an additional 24,053 shares during the period. HUB Investment Partners LLC grew its position in shares of Textron by 30.3% in the 4th quarter. HUB Investment Partners LLC now owns 30,026 shares of the aerospace company's stock worth $2,297,000 after buying an additional 6,990 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of Textron by 79.5% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company's stock worth $762,000 after buying an additional 4,409 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TXT. Citigroup reduced their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. TD Cowen upgraded shares of Textron to a "hold" rating in a research note on Monday, February 24th. UBS Group raised their price objective on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research note on Monday, April 28th. Morgan Stanley reduced their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Finally, Jefferies Financial Group restated a "buy" rating and set a $95.00 price objective (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Textron currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.36.

Textron Stock Performance

Shares of TXT opened at $76.97 on Wednesday. The firm has a market capitalization of $13.90 billion, a P/E ratio of 17.45, a PEG ratio of 1.26 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The business has a fifty day moving average of $72.03 and a 200 day moving average of $74.15.

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

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron's dividend payout ratio is currently 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.

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