Price T Rowe Associates Inc. MD Trims Position in Textron Inc. $TXT

Price T Rowe Associates Inc. MD reduced its position in Textron Inc. (NYSE:TXT) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,578,510 shares of the aerospace company’s stock after selling 51,470 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.43% of Textron worth $186,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in Textron during the first quarter valued at $25,000. Harvest Fund Management Co. Ltd increased its position in shares of Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 262 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Textron in the first quarter valued at approximately $41,000. Optiver Holding B.V. purchased a new position in Textron in the 4th quarter worth approximately $56,000. Finally, Federated Hermes Inc. increased its holdings in shares of Textron by 48.8% in the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock worth $58,000 after buying an additional 263 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Up 2.5%

Shares of NYSE TXT opened at $81.4280 on Monday. The firm has a fifty day simple moving average of $80.43 and a two-hundred day simple moving average of $74.87. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.48. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $14.51 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. Textron’s quarterly revenue was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, September 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s payout ratio is currently 1.81%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TXT. Barclays increased their target price on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Susquehanna upped their price target on shares of Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Wall Street Zen downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Morgan Stanley raised their price target on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.67.

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the transaction, the executive vice president owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

About Textron

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.