Los Angeles Capital Management LLC Increases Holdings in Textron Inc. (NYSE:TXT)

Los Angeles Capital Management LLC raised its position in shares of Textron Inc. (NYSE:TXT) by 12.2% in the fourth quarter, HoldingsChannel reports. 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’s holdings in Textron were worth $45,745,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Natixis Advisors L.P. boosted its position in Textron by 80.9% during the 4th quarter. Natixis Advisors L.P. now owns 183,995 shares of the aerospace company’s stock valued at $14,796,000 after acquiring an additional 82,311 shares in the last quarter. Amica Mutual Insurance Co. purchased a new position in Textron in the fourth quarter valued at about $1,513,000. Russell Investments Group Ltd. raised its holdings in Textron by 1.6% in the fourth quarter. Russell Investments Group Ltd. now owns 367,411 shares of the aerospace company’s stock worth $29,548,000 after purchasing an additional 5,892 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Textron by 6,247.7% in the 4th quarter. Headlands Technologies LLC now owns 2,793 shares of the aerospace company’s stock valued at $225,000 after buying an additional 2,749 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Textron by 17.9% in the 4th quarter. Truist Financial Corp now owns 17,016 shares of the aerospace company’s stock worth $1,368,000 after buying an additional 2,580 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. The Goldman Sachs Group boosted their target price on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. UBS Group increased their price target on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Citigroup boosted their price target on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Susquehanna decreased their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.63.

Textron Stock Performance

Shares of Textron stock traded up $0.16 on Friday, reaching $85.53. 1,388,857 shares of the stock were exchanged, compared to its average volume of 1,226,395. Textron Inc. has a twelve month low of $61.27 and a twelve month high of $97.33. The business has a 50 day moving average price of $92.11 and a two-hundred day moving average price of $84.04. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $16.31 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.34 and a beta of 1.32.

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

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.71%.

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.