UMB Bank n.a. Increases Position in Textron Inc. $TXT

UMB Bank n.a. lifted its stake in Textron Inc. (NYSE:TXT) by 124.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,313 shares of the aerospace company’s stock after acquiring an additional 727 shares during the period. UMB Bank n.a.’s holdings in Textron were worth $105,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TXT. Banque Cantonale Vaudoise bought a new position in Textron in the first quarter worth about $25,000. Harvest Fund Management Co. Ltd raised its stake in shares of Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after acquiring an additional 262 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Textron during the first quarter valued at approximately $41,000. Federated Hermes Inc. boosted its stake in Textron by 48.8% in the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock valued at $58,000 after acquiring 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. Institutional investors own 86.03% of the company’s stock.

Insider Activity 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 value of $2,265,457.91. Following the sale, the executive vice president 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 Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TXT. Wall Street Zen cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 20th. UBS Group raised Textron from a “sell” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $88.00 in a report on Monday, July 28th. Susquehanna boosted 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. Morgan Stanley increased their price objective 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. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.45.

Textron Price Performance

Shares of NYSE:TXT opened at $82.74 on Thursday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. 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 company has a market cap of $14.75 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14. The company’s 50 day moving average is $80.84 and its 200 day moving average is $76.21.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, beating 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 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 prior year, the firm earned $1.54 EPS. The business’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 forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed 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. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron’s payout ratio is 1.81%.

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.