Acadian Asset Management LLC Makes New Investment in Textron Inc. $TXT

Acadian Asset Management LLC bought a new position in shares of Textron Inc. (NYSE:TXT) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,912 shares of the aerospace company’s stock, valued at approximately $1,293,000.

Several other institutional investors and hedge funds have also bought and sold shares of TXT. T. Rowe Price Investment Management Inc. boosted its position in shares of Textron by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company’s stock worth $824,408,000 after purchasing an additional 76,972 shares in the last quarter. Invesco Ltd. boosted its holdings 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 acquiring an additional 433,567 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Textron by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company’s stock worth $89,838,000 after acquiring an additional 120,577 shares in the last quarter. Nuveen LLC bought a new position in Textron in the first quarter worth approximately $89,403,000. Finally, Millennium Management LLC lifted its holdings in shares of Textron by 128.7% in the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock worth $80,416,000 after purchasing an additional 626,346 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Textron Stock Performance

NYSE TXT opened at $82.82 on Thursday. The company’s 50 day moving average is $80.98 and its 200-day moving average is $75.86. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.30. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm has a market cap of $14.76 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TXT. Jefferies Financial Group reiterated a “buy” rating and issued a $95.00 target price (up from $85.00) on shares of Textron in a report on Thursday, June 12th. Barclays raised their price objective on shares of Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Wall Street Zen raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 6th. Susquehanna raised their price target on shares of Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, UBS Group upgraded Textron from a “sell” rating to a “neutral” rating and raised their target price for the company from $73.00 to $88.00 in a report on Monday, July 28th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.67.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the sale, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

About Textron

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.