Textron Inc. $TXT Position Increased by IFP Advisors Inc

IFP Advisors Inc increased its position in shares of Textron Inc. (NYSE:TXT) by 275.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,689 shares of the aerospace company’s stock after acquiring an additional 1,239 shares during the period. IFP Advisors Inc’s holdings in Textron were worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its position in Textron by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company’s stock worth $824,408,000 after buying an additional 76,972 shares during the last quarter. Invesco Ltd. increased its position in Textron by 5.6% during 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 during the last quarter. Goldman Sachs Group Inc. increased its position in Textron by 10.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company’s stock worth $89,838,000 after buying an additional 120,577 shares during the last quarter. Nuveen LLC acquired a new position in Textron during the first quarter worth $89,403,000. Finally, Millennium Management LLC increased its position in Textron by 128.7% during 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 during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on TXT. Weiss Ratings reissued a “hold (c+)” rating on shares of Textron in a research report on Wednesday, October 8th. Wall Street Zen downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Susquehanna raised their price target on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. UBS Group raised Textron from a “sell” rating to a “neutral” rating and raised their price target for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $85.00 price target (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.45.

Textron Stock Down 0.4%

TXT stock opened at $81.31 on Friday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. The company has a market cap of $14.49 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.32 and a beta of 1.13. The business’s 50-day simple moving average is $82.09 and its 200 day simple moving average is $77.46. 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 earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.64 billion. During the same period last year, the business earned $1.54 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid 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 yield of 0.1%. Textron’s dividend payout ratio (DPR) is currently 1.81%.

Insider Buying and Selling

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 37,624 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

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.