Public Employees Retirement System of Ohio Sells 1,768 Shares of Textron Inc. $TXT

Public Employees Retirement System of Ohio reduced its stake in Textron Inc. (NYSE:TXT) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,074 shares of the aerospace company’s stock after selling 1,768 shares during the period. Public Employees Retirement System of Ohio’s holdings in Textron were worth $4,823,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TXT. Nuveen LLC bought a new position in shares of Textron in the first quarter worth $89,403,000. Millennium Management LLC boosted its stake in Textron by 128.7% during the first 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 during the period. Invesco Ltd. boosted its stake in Textron by 5.6% during the first 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 during the period. Mackenzie Financial Corp boosted its stake in Textron by 110.6% during the first 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 during the period. Finally, GAMMA Investing LLC boosted its stake in Textron by 6,952.0% during the first 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 during the period. 86.03% of the stock is owned by institutional investors.

Insider Transactions at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the business’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 transaction, the executive vice president owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TXT. Susquehanna lifted their price objective 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 raised Textron from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Morgan Stanley lifted their price objective on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Jefferies Financial Group reissued a “buy” rating and set a $95.00 price objective (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Wall Street Zen lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 20th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Textron has a consensus rating of “Moderate Buy” and an average price target of $92.45.

Textron Stock Up 0.5%

TXT opened at $83.94 on Tuesday. The company has a market cap of $14.96 billion, a P/E ratio of 18.99, a P/E/G ratio of 1.36 and a beta of 1.14. The business’s 50-day moving average price is $80.73 and its 200-day moving average price is $76.46. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.30.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%.The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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

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.