Fox Run Management L.L.C. Lowers Position in Textron Inc. $TXT

Fox Run Management L.L.C. trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,487 shares of the aerospace company’s stock after selling 1,111 shares during the period. Fox Run Management L.L.C.’s holdings in Textron were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Harvest Portfolios Group Inc. boosted its stake in shares of Textron by 4.0% during the second quarter. Harvest Portfolios Group Inc. now owns 24,522 shares of the aerospace company’s stock valued at $1,969,000 after purchasing an additional 945 shares in the last quarter. Savant Capital LLC lifted its holdings in Textron by 54.1% during the second quarter. Savant Capital LLC now owns 17,084 shares of the aerospace company’s stock worth $1,372,000 after buying an additional 5,995 shares during the period. Twin Capital Management Inc. boosted its position in Textron by 5.6% during the 2nd quarter. Twin Capital Management Inc. now owns 12,701 shares of the aerospace company’s stock valued at $1,020,000 after acquiring an additional 671 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Textron by 2.6% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 59,013 shares of the aerospace company’s stock valued at $4,739,000 after acquiring an additional 1,509 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Textron in the 2nd quarter valued at $27,000. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TXT shares. UBS Group decreased their price objective on Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $90.00 target price on shares of Textron in a report on Monday, October 27th. TD Cowen decreased their price target on shares of Textron from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, October 24th. Susquehanna lifted their price objective 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, JPMorgan Chase & Co. reduced their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.15.

Textron Price Performance

Shares of NYSE TXT opened at $82.05 on Friday. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $89.28. The company has a quick ratio of 0.86, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm has a market cap of $14.46 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.30 and a beta of 1.13. The business’s 50 day moving average price is $82.32 and its 200 day moving average price is $79.26.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 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 net margin of 5.81% and a return on equity of 14.16%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be issued 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 dividend payout ratio is presently 1.76%.

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.