Worldquant Millennium Advisors LLC Increases Stock Position in Textron Inc. (NYSE:TXT)

Worldquant Millennium Advisors LLC raised its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 30.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,695 shares of the aerospace company's stock after acquiring an additional 8,241 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Textron were worth $3,162,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TXT. Wedge Capital Management L L P NC acquired a new position in shares of Textron during the second quarter valued at approximately $64,319,000. Brandes Investment Partners LP grew its position in shares of Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company's stock valued at $133,096,000 after purchasing an additional 258,778 shares in the last quarter. AQR Capital Management LLC grew its position in shares of 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 purchasing an additional 231,173 shares in the last quarter. Fidelity National Financial Inc. purchased a new stake in shares of Textron in the second quarter valued at approximately $19,748,000. Finally, Distillate Capital Partners LLC grew its position in Textron by 101,299.4% in the second quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company's stock worth $14,278,000 after acquiring an additional 166,131 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Down 0.3 %

Textron stock traded down $0.23 during midday trading on Monday, reaching $82.43. The company's stock had a trading volume of 1,112,588 shares, compared to its average volume of 1,081,224. Textron Inc. has a fifty-two week low of $75.81 and a fifty-two week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The company has a market cap of $15.29 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.49 and a beta of 1.25. The business has a 50-day simple moving average of $85.49 and a 200-day simple moving average of $86.96.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same period in the previous year, the business posted $1.49 EPS. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts expect that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron's dividend payout ratio is currently 1.76%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. TD Cowen lowered Textron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research report on Friday, October 25th. Finally, Robert W. Baird lowered their price target on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Textron has a consensus rating of "Moderate Buy" and an average target price of $101.56.

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.