Forum Financial Management LP Lowers Holdings in Textron Inc. $TXT

Forum Financial Management LP trimmed its position in Textron Inc. (NYSE:TXT) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,882 shares of the aerospace company’s stock after selling 443 shares during the period. Forum Financial Management LP’s holdings in Textron were worth $392,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TXT. Banque Cantonale Vaudoise bought a new stake in Textron during the first quarter valued at $25,000. Harvest Fund Management Co. Ltd boosted its position in shares of Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock valued at $39,000 after acquiring an additional 262 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Textron during the first quarter worth about $41,000. Federated Hermes Inc. increased its position in shares of Textron by 48.8% in the first 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. Finally, Rosenberg Matthew Hamilton purchased a new stake in Textron in the second quarter valued at approximately $60,000. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TXT shares. Morgan Stanley increased their price target on shares of Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Textron in a research report on Friday. UBS Group dropped their price target on Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research note on Friday. Susquehanna increased their price objective on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $85.00 target price (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.33.

Textron Stock Up 2.1%

TXT opened at $81.13 on Friday. The company has a market cap of $14.46 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.32 and a beta of 1.13. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $89.28. The business’s 50-day moving average price is $82.32 and its 200-day moving average price is $78.14. The company has a current ratio of 1.69, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.08. Textron had a return on equity of 14.16% and a net margin of 5.81%.The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the company earned $1.40 EPS. Textron’s revenue for the quarter was up 5.1% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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

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.