Greenleaf Trust Sells 1,056 Shares of Textron Inc. $TXT

Greenleaf Trust lowered its position in Textron Inc. (NYSE:TXT) by 22.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,555 shares of the aerospace company’s stock after selling 1,056 shares during the quarter. Greenleaf Trust’s holdings in Textron were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of TXT. Nuveen LLC purchased a new stake in Textron in the first quarter worth approximately $89,403,000. Millennium Management LLC boosted its stake in Textron by 128.7% in the first quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock worth $80,416,000 after buying an additional 626,346 shares in the last quarter. Invesco Ltd. boosted its stake in Textron by 5.6% in the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock worth $590,059,000 after buying an additional 433,567 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Textron by 110.6% in the first quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company’s stock worth $31,960,000 after buying an additional 232,277 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Textron by 6,952.0% in the first quarter. GAMMA Investing LLC now owns 217,906 shares of the aerospace company’s stock worth $15,744,000 after buying an additional 214,816 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE:TXT opened at $86.92 on Friday. The stock has a market cap of $15.49 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.13. The firm’s fifty day simple moving average is $80.92 and its 200 day simple moving average is $76.76. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

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

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is currently 1.81%.

Analysts Set New Price Targets

Several analysts have issued reports on TXT shares. UBS Group raised Textron from a “sell” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $88.00 in a research note on Monday, July 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $85.00 price objective (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Textron in a report on Saturday, September 27th. Jefferies Financial Group restated a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Finally, Susquehanna raised their target price on shares of Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.45.

Insider Buying and Selling

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president owned 37,624 shares of the company’s stock, valued at approximately $2,986,216.88. This trade represents 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 link. Corporate 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.