Park Avenue Securities LLC Sells 2,450 Shares of Textron Inc. $TXT

Park Avenue Securities LLC lessened its stake in Textron Inc. (NYSE:TXT) by 44.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,088 shares of the aerospace company’s stock after selling 2,450 shares during the period. Park Avenue Securities LLC’s holdings in Textron were worth $248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TXT. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Textron by 31.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company’s stock worth $2,776,000 after purchasing an additional 9,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Textron by 16.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company’s stock valued at $1,474,000 after acquiring an additional 2,803 shares during the period. LPL Financial LLC increased its position in shares of Textron by 4.9% in the first quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company’s stock valued at $6,483,000 after acquiring an additional 4,204 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Textron during the first quarter valued at about $545,000. Finally, TD Asset Management Inc boosted its holdings in shares of Textron by 2.2% during the first quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company’s stock worth $69,776,000 after purchasing an additional 20,733 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the sale, the executive vice president owned 37,624 shares of the company’s stock, valued at $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Susquehanna upped their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Finally, UBS Group raised shares of Textron from a “sell” rating to a “neutral” rating and raised their target price for the stock from $73.00 to $88.00 in a research report on Monday, July 28th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.45.

Textron Trading Up 1.0%

Textron stock opened at $85.32 on Thursday. 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 $15.21 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.38 and a beta of 1.13. The business’s fifty day simple moving average is $80.66 and its two-hundred day simple moving average is $76.58. 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 (NYSE:TXT) last posted its quarterly 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 firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the firm earned $1.54 EPS. Textron’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. As a group, equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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