Los Angeles Capital Management LLC Grows Stock Position in Textron Inc. (NYSE:TXT)

Los Angeles Capital Management LLC lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 279,336 shares of the aerospace company's stock after purchasing an additional 17,346 shares during the period. Los Angeles Capital Management LLC owned 0.15% of Textron worth $24,744,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Boston Partners increased its position in Textron by 1.4% during the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company's stock worth $682,475,000 after acquiring an additional 99,868 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company's stock valued at $241,152,000 after purchasing an additional 160,923 shares during the last quarter. Brandes Investment Partners LP raised its holdings in shares of Textron by 20.0% during the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company's stock worth $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC boosted its stake in Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company's stock valued at $124,608,000 after buying an additional 231,173 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Textron by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company's stock worth $120,099,000 after purchasing an additional 6,175 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TXT has been the topic of a number of research analyst reports. Robert W. Baird cut their price target on shares of Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Citigroup raised their price target on shares of Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. StockNews.com cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. UBS Group reduced their price target on shares of Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research report on Friday, October 25th. Finally, Bank of America lifted their price target on Textron from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $101.56.

Textron Price Performance

Shares of Textron stock traded up $0.54 on Monday, reaching $88.10. The stock had a trading volume of 807,392 shares, compared to its average volume of 1,083,258. The business's 50 day moving average is $86.49 and its two-hundred day moving average is $87.31. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The company has a market cap of $16.34 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the company earned $1.49 EPS. Textron's quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts anticipate that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron's payout ratio is 1.76%.

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.