Nomura Asset Management Co. Ltd. Acquires 4,787 Shares of Textron Inc. $TXT

Nomura Asset Management Co. Ltd. boosted its stake in shares of Textron Inc. (NYSE:TXT) by 8.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,550 shares of the aerospace company’s stock after acquiring an additional 4,787 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Textron were worth $4,942,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in Textron in the 1st quarter worth about $89,403,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Textron in the second quarter valued at approximately $66,446,000. Millennium Management LLC grew its stake in Textron by 128.7% during the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock worth $80,416,000 after buying an additional 626,346 shares during the last quarter. Invesco Ltd. grew its position in Textron by 5.6% during the 1st 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 during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Textron by 110.6% in the 1st quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company’s stock valued at $31,960,000 after acquiring an additional 232,277 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. reduced their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, October 27th. UBS Group dropped their price objective on shares of Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Barclays raised their price objective 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, Susquehanna upped their price target on 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 issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $92.15.

Textron Trading Up 2.2%

NYSE:TXT opened at $81.28 on Friday. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $87.94. The company has a market capitalization of $14.32 billion, a PE ratio of 17.86, a P/E/G ratio of 1.30 and a beta of 1.13. The stock’s 50 day moving average price is $82.32 and its 200 day moving average price is $79.99. The company has a quick ratio of 0.86, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. Textron had a net margin of 5.81% and a return on equity of 14.16%. Textron’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Textron Inc. will post 6.12 EPS for the current 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. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, December 12th. Textron’s payout ratio is presently 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.