Voya Investment Management LLC Cuts Stock Position in Textron Inc. $TXT

Voya Investment Management LLC decreased its position in shares of Textron Inc. (NYSE:TXT) by 21.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,197 shares of the aerospace company’s stock after selling 33,598 shares during the period. Voya Investment Management LLC owned approximately 0.07% of Textron worth $8,901,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in Textron in the first quarter worth about $25,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock valued at $39,000 after purchasing an additional 262 shares during the period. Zions Bancorporation National Association UT bought a new position in Textron in the first quarter worth approximately $41,000. Federated Hermes Inc. raised its stake in Textron by 48.8% in the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock worth $58,000 after buying an additional 263 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Textron by 123.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock worth $61,000 after purchasing an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Up 1.5%

NYSE TXT opened at $83.43 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. The firm’s fifty day moving average price is $80.98 and its 200 day moving average price is $75.81. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.34 and a beta of 1.14. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.30.

Textron (NYSE:TXT) last issued its quarterly earnings data 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. Textron had a net margin of 5.80% and a return on equity of 14.26%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period last year, the firm posted $1.54 EPS. Textron’s revenue for the quarter 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s payout ratio is presently 1.81%.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the sale, the executive vice president owned 37,624 shares of the company’s stock, valued at $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $85.00 price target (down from $95.00) on shares of Textron in a report on Tuesday, July 1st. Morgan Stanley boosted their target price on shares of Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Susquehanna upped 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. UBS Group upgraded shares of Textron from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $88.00 in a research report on Monday, July 28th. Finally, Jefferies Financial Group restated a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.67.

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.