Fifth Third Bancorp Buys 159 Shares of Textron Inc. $TXT

Fifth Third Bancorp lifted its stake in Textron Inc. (NYSE:TXT) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,063 shares of the aerospace company’s stock after acquiring an additional 159 shares during the period. Fifth Third Bancorp’s holdings in Textron were worth $567,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nuveen LLC acquired a new position in Textron during the 1st quarter valued at about $89,403,000. Millennium Management LLC increased its position in Textron by 128.7% during the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock valued at $80,416,000 after buying an additional 626,346 shares in the last quarter. Invesco Ltd. increased its position in Textron by 5.6% during the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock valued at $590,059,000 after buying an additional 433,567 shares in the last quarter. Mackenzie Financial Corp increased its position in Textron by 110.6% during the 1st quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company’s stock valued at $31,960,000 after buying an additional 232,277 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Textron by 6,952.0% during the 1st quarter. GAMMA Investing LLC now owns 217,906 shares of the aerospace company’s stock valued at $15,744,000 after buying an additional 214,816 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of Textron 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

Textron Price Performance

NYSE:TXT opened at $83.94 on Tuesday. Textron Inc. has a one year low of $57.70 and a one year high of $91.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The stock has a market cap of $14.96 billion, a PE ratio of 18.99, a P/E/G ratio of 1.36 and a beta of 1.14. The stock has a 50 day moving average price of $80.73 and a 200 day moving average price of $76.46.

Textron (NYSE:TXT) last posted its earnings results 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 return on equity of 14.26% and a net margin of 5.80%.The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the firm earned $1.54 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

Analyst Ratings Changes

TXT has been the topic of several research analyst reports. Susquehanna boosted their price target on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Friday, July 25th. UBS Group upgraded Textron from a “sell” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Wall Street Zen downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 20th. Morgan Stanley boosted their price target on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $85.00 target price (down from $95.00) on shares of Textron in a report on Tuesday, July 1st. Six 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.45.

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.