Textron Inc. $TXT Shares Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its stake in Textron Inc. (NYSE:TXT) by 24,292.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,001 shares of the aerospace company’s stock after acquiring an additional 9,960 shares during the quarter. Meeder Asset Management Inc.’s holdings in Textron were worth $845,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Textron by 2.5% in the second quarter. State Street Corp now owns 9,007,450 shares of the aerospace company’s stock worth $723,384,000 after buying an additional 217,401 shares during the period. Boston Partners raised its holdings in shares of Textron by 1.5% during the second quarter. Boston Partners now owns 7,190,786 shares of the aerospace company’s stock valued at $577,304,000 after acquiring an additional 109,277 shares during the period. LSV Asset Management lifted its position in shares of Textron by 7.2% in the 2nd quarter. LSV Asset Management now owns 4,153,321 shares of the aerospace company’s stock valued at $333,470,000 after acquiring an additional 279,237 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Textron by 19.9% in the 2nd quarter. Brandes Investment Partners LP now owns 2,714,466 shares of the aerospace company’s stock valued at $217,945,000 after acquiring an additional 451,017 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Textron by 144.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,664,612 shares of the aerospace company’s stock worth $213,942,000 after purchasing an additional 1,573,206 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Down 0.6%

TXT opened at $93.27 on Tuesday. The company has a market capitalization of $16.44 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.40 and a beta of 1.00. 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 fifty-two week low of $57.70 and a fifty-two week high of $94.01. The business has a 50-day moving average of $85.33 and a 200-day moving average of $82.99.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the business posted $1.40 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. 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 fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Friday, December 12th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, December 12th. Textron’s payout ratio is currently 1.76%.

Analyst Ratings Changes

TXT has been the topic of several recent analyst reports. UBS Group cut their target price on shares of Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Citigroup started coverage on Textron in a report on Thursday, December 11th. They set a “neutral” rating and a $91.00 price target on the stock. Weiss Ratings lowered Textron from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 27th. Finally, JPMorgan Chase & Co. lowered their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $91.25.

Textron Profile

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.