Harvest Portfolios Group Inc. Purchases 2,618 Shares of Textron Inc. $TXT

Harvest Portfolios Group Inc. grew its position in shares of Textron Inc. (NYSE:TXT) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,577 shares of the aerospace company’s stock after purchasing an additional 2,618 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Textron were worth $1,703,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in Textron during the 1st quarter worth approximately $25,000. Harvest Fund Management Co. Ltd raised its holdings in Textron by 100.0% during the 1st 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 bought a new position in Textron during the 1st quarter worth approximately $41,000. Optiver Holding B.V. bought a new position in Textron during the 4th quarter worth approximately $56,000. Finally, Federated Hermes Inc. raised its holdings in Textron by 48.8% during the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock worth $58,000 after purchasing an additional 263 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $81.37 on Wednesday. The company has a fifty day simple moving average of $80.59 and a 200 day simple moving average of $74.96. 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 company has a market cap of $14.50 billion, a P/E ratio of 18.41, a PEG ratio of 1.32 and a beta of 1.16.

Textron (NYSE:TXT) last posted 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 business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the firm posted $1.54 EPS. Textron’s revenue was up 5.4% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Analyst Ratings Changes

TXT has been the subject of several analyst reports. UBS Group upgraded shares of Textron from a “sell” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $88.00 in a report on Monday, July 28th. Susquehanna raised their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $85.00 price objective (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Morgan Stanley raised their price objective on shares of Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Finally, Wall Street Zen downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and an average price target of $92.67.

Insider Transactions at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction on Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the transaction, the executive vice president directly owned 37,624 shares of the company’s stock, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by corporate 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.