Simon Quick Advisors LLC Acquires New Position in Textron Inc. $TXT

Simon Quick Advisors LLC acquired a new stake in Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,661 shares of the aerospace company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strs Ohio bought a new stake in Textron in the 2nd quarter valued at about $2,309,000. Atria Investments Inc raised its stake in Textron by 36.0% in the 2nd quarter. Atria Investments Inc now owns 10,088 shares of the aerospace company’s stock valued at $810,000 after acquiring an additional 2,671 shares during the period. Assetmark Inc. increased its position in shares of Textron by 191.9% during the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after buying an additional 213 shares during the period. Hantz Financial Services Inc. increased its position in shares of Textron by 2.9% during the second quarter. Hantz Financial Services Inc. now owns 4,963 shares of the aerospace company’s stock valued at $398,000 after buying an additional 140 shares during the period. Finally, SYM FINANCIAL Corp bought a new stake in shares of Textron during the second quarter valued at about $221,000. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TXT has been the topic of several analyst reports. TD Cowen decreased their price target on Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, October 24th. JPMorgan Chase & Co. decreased their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 27th. Barclays upped their price target on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Finally, Susquehanna raised their target price on shares of Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Textron presently has an average rating of “Hold” and an average target price of $92.15.

Textron Trading Down 0.2%

Shares of TXT opened at $79.79 on Wednesday. The firm’s 50 day simple moving average is $82.31 and its 200 day simple moving average is $79.02. The company has a market capitalization of $14.06 billion, a P/E ratio of 17.54, a P/E/G ratio of 1.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $89.28.

Textron (NYSE:TXT) last issued its 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. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. Textron had a return on equity of 14.16% and a net margin of 5.81%.Textron’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be paid a $0.02 dividend. 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 currently 1.76%.

Textron Company 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.