US Bancorp DE Buys 2,563 Shares of Textron Inc. $TXT

US Bancorp DE boosted its position in shares of Textron Inc. (NYSE:TXT) by 9.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 29,085 shares of the aerospace company’s stock after acquiring an additional 2,563 shares during the quarter. US Bancorp DE’s holdings in Textron were worth $2,335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its position in Textron by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company’s stock worth $824,408,000 after acquiring an additional 76,972 shares during the period. Invesco Ltd. lifted 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 worth $590,059,000 after acquiring an additional 433,567 shares during the period. Goldman Sachs Group Inc. lifted its position in Textron by 10.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company’s stock worth $89,838,000 after acquiring an additional 120,577 shares during the period. Nuveen LLC acquired a new stake in Textron during the 1st quarter worth about $89,403,000. Finally, Millennium Management LLC lifted 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 worth $80,416,000 after acquiring an additional 626,346 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Price Performance

Shares of Textron stock opened at $82.65 on Thursday. The business has a 50 day simple moving average of $81.92 and a two-hundred day simple moving average of $77.30. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.30. The stock has a market capitalization of $14.73 billion, a P/E ratio of 18.70, a PEG ratio of 1.36 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84.

Textron (NYSE:TXT) last announced its earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. The business’s 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, analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

A number of analysts have commented on the company. Morgan Stanley lifted their price target on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. UBS Group raised Textron from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $73.00 to $88.00 in a report on Monday, July 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $85.00 price objective (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Wall Street Zen raised Textron from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Finally, Barclays boosted their price objective on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Textron has a consensus rating of “Hold” and an average target price of $92.45.

Insider Activity at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction that occurred 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 $2,986,216.88. This 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 through this hyperlink. 1.70% of the stock is owned by insiders.

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.