Seamount Financial Group Inc. Takes Position in Textron Inc. $TXT

Seamount Financial Group Inc. acquired a new stake in Textron Inc. (NYSE:TXT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,850 shares of the aerospace company’s stock, valued at approximately $229,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Merit Financial Group LLC increased its holdings in Textron by 16.4% in the first quarter. Merit Financial Group LLC now owns 5,569 shares of the aerospace company’s stock valued at $402,000 after buying an additional 785 shares in the last quarter. CX Institutional acquired a new stake in shares of Textron in the 1st quarter worth approximately $152,000. Exchange Traded Concepts LLC increased its stake in Textron by 7.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company’s stock valued at $207,000 after purchasing an additional 197 shares in the last quarter. Inscription Capital LLC acquired a new position in Textron during the first quarter worth $220,000. Finally, State of Alaska Department of Revenue raised its holdings in Textron by 1.0% during the first quarter. State of Alaska Department of Revenue now owns 21,373 shares of the aerospace company’s stock worth $1,544,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TXT shares. Barclays upped their target price on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. UBS Group raised shares of Textron from a “sell” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $88.00 in a research note on Monday, July 28th. The Goldman Sachs Group restated a “neutral” rating and set a $85.00 target price (down from $95.00) on shares of Textron in a report on Tuesday, July 1st. Susquehanna lifted their target price on shares of Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a report on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $92.45.

Textron Trading Up 0.6%

Shares of TXT stock opened at $87.39 on Tuesday. The firm has a 50-day moving average price of $81.10 and a 200 day moving average price of $76.88. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. The company has a market capitalization of $15.57 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.42 and a beta of 1.13. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Research 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 was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were 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 was Friday, September 12th. Textron’s payout ratio is presently 1.81%.

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the transaction, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. The trade was a 43.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

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.