Textron Inc. $TXT Shares Acquired by Royal Bank of Canada

Royal Bank of Canada boosted its stake in Textron Inc. (NYSE:TXT) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 277,088 shares of the aerospace company’s stock after buying an additional 2,632 shares during the period. Royal Bank of Canada owned 0.15% of Textron worth $20,020,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its position in Textron by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company’s stock worth $824,408,000 after buying an additional 76,972 shares during the period. Invesco Ltd. increased its position in Textron by 5.6% in the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock worth $590,059,000 after buying an additional 433,567 shares during the period. Nuveen LLC acquired a new stake in Textron in the first quarter worth $89,403,000. Voloridge Investment Management LLC increased its position in Textron by 35.0% in the fourth quarter. Voloridge Investment Management LLC now owns 980,374 shares of the aerospace company’s stock worth $74,989,000 after buying an additional 254,379 shares during the period. Finally, Gabelli Funds LLC increased its position in Textron by 0.8% in the first quarter. Gabelli Funds LLC now owns 973,952 shares of the aerospace company’s stock worth $70,368,000 after buying an additional 7,500 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Up 1.6%

Shares of TXT stock opened at $82.75 on Tuesday. The stock has a 50-day simple moving average of $80.99 and a 200 day simple moving average of $75.48. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.30. The stock has a market capitalization of $14.75 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.33 and a beta of 1.14. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the business posted $1.54 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. 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 fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a $0.02 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron’s dividend payout ratio (DPR) is 1.81%.

Insider Buying and Selling at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the 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 owned 37,624 shares in the company, valued at $2,986,216.88. This trade represents a 43.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $85.00 target price (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. UBS Group raised Textron from a “sell” rating to a “neutral” rating and raised their price target for the company from $73.00 to $88.00 in a report on Monday, July 28th. Jefferies Financial Group reissued a “buy” rating and set a $95.00 price target (up from $85.00) on shares of Textron in a report on Thursday, June 12th. Wall Street Zen raised Textron from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Susquehanna raised their price target on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $92.67.

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.