Edgestream Partners L.P. Acquires New Stake in Textron Inc. $TXT

Edgestream Partners L.P. bought a new position in shares of Textron Inc. (NYSE:TXT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 63,413 shares of the aerospace company’s stock, valued at approximately $5,091,000.

A number of other institutional investors have also recently made changes to their positions in TXT. Hantz Financial Services Inc. raised its position in shares of Textron by 2.9% during the second quarter. Hantz Financial Services Inc. now owns 4,963 shares of the aerospace company’s stock worth $398,000 after acquiring an additional 140 shares during the last quarter. Moody National Bank Trust Division increased its position in Textron by 1.2% during the 2nd quarter. Moody National Bank Trust Division now owns 12,139 shares of the aerospace company’s stock valued at $975,000 after purchasing an additional 141 shares during the period. Brooklyn Investment Group raised its holdings in Textron by 10.3% during the 1st quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company’s stock worth $120,000 after purchasing an additional 156 shares during the last quarter. Fifth Third Bancorp raised its holdings in Textron by 2.3% during the 2nd quarter. Fifth Third Bancorp now owns 7,063 shares of the aerospace company’s stock worth $567,000 after purchasing an additional 159 shares during the last quarter. Finally, 3Chopt Investment Partners LLC lifted its position in shares of Textron by 3.3% in the 2nd quarter. 3Chopt Investment Partners LLC now owns 5,333 shares of the aerospace company’s stock worth $428,000 after purchasing an additional 168 shares during the period. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TXT shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. TD Cowen lowered their price objective on Textron from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, October 24th. Sanford C. Bernstein reissued a “market perform” rating and issued a $90.00 price objective on shares of Textron in a research note on Monday, October 27th. JPMorgan Chase & Co. cut their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Monday, October 27th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.15.

Textron Stock Performance

Shares of Textron stock opened at $82.49 on Wednesday. The business has a 50-day simple moving average of $82.28 and a 200 day simple moving average of $80.52. Textron Inc. has a one year low of $57.70 and a one year high of $87.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.30 and a beta of 1.01.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. Textron had a return on equity of 14.16% and a net margin of 5.81%.The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The company’s revenue for the quarter was up 5.1% 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 fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, December 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio is presently 1.76%.

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.