Illinois Municipal Retirement Fund Has $6.21 Million Holdings in Textron Inc. $TXT

Illinois Municipal Retirement Fund trimmed its position in shares of Textron Inc. (NYSE:TXT) by 24.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,318 shares of the aerospace company’s stock after selling 25,635 shares during the period. Illinois Municipal Retirement Fund’s holdings in Textron were worth $6,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of Textron by 0.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 131,973 shares of the aerospace company’s stock valued at $9,535,000 after purchasing an additional 1,084 shares during the period. New York State Common Retirement Fund raised its stake in Textron by 22.6% in the first quarter. New York State Common Retirement Fund now owns 536,281 shares of the aerospace company’s stock valued at $38,746,000 after buying an additional 98,686 shares during the period. Signaturefd LLC raised its stake in Textron by 30.9% in the first quarter. Signaturefd LLC now owns 3,871 shares of the aerospace company’s stock valued at $280,000 after buying an additional 914 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Textron by 6.4% in the first quarter. Apollon Wealth Management LLC now owns 3,599 shares of the aerospace company’s stock valued at $260,000 after buying an additional 215 shares during the last quarter. Finally, Dakota Wealth Management bought a new position in shares of Textron during the 1st quarter worth approximately $256,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TXT shares. Barclays raised their price target on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. TD Cowen decreased their price target on shares of Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, October 24th. Susquehanna increased their price target on shares of Textron from $90.00 to $95.00 and gave the company a “positive” rating in a report on Friday, July 25th. Sanford C. Bernstein restated a “market perform” rating and set a $90.00 price objective on shares of Textron in a report on Monday, October 27th. Finally, JPMorgan Chase & Co. decreased their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $92.15.

Textron Stock Up 0.5%

Shares of TXT opened at $82.44 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $88.38. The firm’s 50 day moving average is $82.41 and its 200-day moving average is $79.54. The stock has a market capitalization of $14.53 billion, a PE ratio of 18.12, a P/E/G ratio of 1.30 and a beta of 1.13.

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

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 12th will be issued 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 of this dividend is Friday, December 12th. Textron’s dividend payout ratio is 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.