Los Angeles Capital Management LLC Purchases 61,958 Shares of Textron Inc. (NYSE:TXT)

Los Angeles Capital Management LLC boosted its position in Textron Inc. (NYSE:TXT - Free Report) by 12.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 568,832 shares of the aerospace company's stock after acquiring an additional 61,958 shares during the period. Los Angeles Capital Management LLC owned 0.29% of Textron worth $45,745,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. CVA Family Office LLC purchased a new stake in shares of Textron during the 4th quarter valued at approximately $29,000. Trust Co. of Vermont bought a new position in shares of Textron in the third quarter worth $37,000. Provence Wealth Management Group purchased a new position in shares of Textron in the third quarter valued at $39,000. Morton Brown Family Wealth LLC purchased a new stake in Textron during the 4th quarter worth about $40,000. Finally, Quent Capital LLC boosted its stake in Textron by 29.2% in the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company's stock worth $51,000 after purchasing an additional 143 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Up 0.2 %

Shares of TXT traded up $0.16 during mid-day trading on Friday, reaching $85.53. The company's stock had a trading volume of 1,388,857 shares, compared to its average volume of 1,226,395. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33. The stock has a market cap of $16.31 billion, a PE ratio of 18.24, a P/E/G ratio of 1.34 and a beta of 1.32. The company's fifty day moving average price is $92.11 and its two-hundred day moving average price is $84.04. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron's payout ratio is 1.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Textron from $104.00 to $111.00 and gave the stock a "buy" rating in a report on Thursday, April 4th. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research note on Friday, April 26th. Susquehanna dropped their price target on Textron from $110.00 to $105.00 and set a "positive" rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group upped their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Finally, Bank of America raised shares of Textron from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $95.63.

Textron 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.