Parallel Advisors LLC Purchases 263 Shares of Textron Inc. $TXT

Parallel Advisors LLC increased its position in Textron Inc. (NYSE:TXT) by 23.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,378 shares of the aerospace company’s stock after buying an additional 263 shares during the quarter. Parallel Advisors LLC’s holdings in Textron were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TXT. Nuveen LLC bought a new stake in Textron in the 1st quarter worth approximately $89,403,000. Millennium Management LLC increased its stake in 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 during the period. Invesco Ltd. increased its stake in Textron by 5.6% in the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock worth $590,059,000 after purchasing an additional 433,567 shares during the period. Mackenzie Financial Corp increased its stake in Textron by 110.6% in the 1st quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company’s stock worth $31,960,000 after purchasing an additional 232,277 shares during the period. Finally, GAMMA Investing LLC increased its stake in Textron by 6,952.0% in the 1st quarter. GAMMA Investing LLC now owns 217,906 shares of the aerospace company’s stock worth $15,744,000 after purchasing an additional 214,816 shares during the period. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TXT shares. UBS Group raised Textron from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $73.00 to $88.00 in a research note on Monday, July 28th. 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 research note on Tuesday, July 1st. Susquehanna lifted their price target on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Wall Street Zen cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley lifted their price target on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.67.

Textron Trading Down 0.7%

Textron stock opened at $82.93 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $80.86 and its two-hundred day simple moving average is $76.17. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.30. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14.

Textron (NYSE:TXT) last released its earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the company posted $1.54 earnings per share. The company’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. As a group, equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 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, September 12th. Textron’s payout ratio is 1.81%.

Insider Buying and Selling

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 sale, the executive vice president directly owned 37,624 shares of the company’s stock, valued at approximately $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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.