Textron Inc. $TXT Stake Lowered by Capital Market Strategies LLC

Capital Market Strategies LLC reduced its stake in shares of Textron Inc. (NYSE:TXT) by 12.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,150 shares of the aerospace company’s stock after selling 700 shares during the period. Capital Market Strategies LLC’s holdings in Textron were worth $413,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its holdings in Textron by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company’s stock worth $824,408,000 after purchasing an additional 76,972 shares in the last quarter. Invesco Ltd. boosted its holdings in Textron by 5.6% in the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock worth $590,059,000 after purchasing an additional 433,567 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Textron by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company’s stock worth $89,838,000 after purchasing an additional 120,577 shares in the last quarter. Nuveen LLC bought a new stake in Textron in the first quarter worth $89,403,000. Finally, Millennium Management LLC boosted its holdings in Textron by 128.7% in the first quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock worth $80,416,000 after purchasing an additional 626,346 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Price Performance

Shares of Textron stock opened at $81.29 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The firm’s 50-day simple moving average is $80.93 and its 200-day simple moving average is $75.67. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. The firm has a market cap of $14.49 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.14.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share 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 for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business earned $1.54 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction dated 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 sale, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. The trade was a 43.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TXT shares. Susquehanna upped their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 6th. Morgan Stanley boosted their target price 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. Barclays boosted their target price on shares of Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $95.00 target price (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and an average price target of $92.67.

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.