D.A. Davidson & CO. Buys New Stake in Textron Inc. $TXT

D.A. Davidson & CO. purchased a new stake in Textron Inc. (NYSE:TXT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,492 shares of the aerospace company’s stock, valued at approximately $633,000.

A number of other institutional investors have also modified their holdings of TXT. True Wealth Design LLC lifted its holdings in shares of Textron by 388.5% in the 3rd quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock valued at $25,000 after buying an additional 237 shares during the period. Assetmark Inc. lifted its holdings in Textron by 191.9% in the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 213 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Textron in the 2nd quarter worth approximately $27,000. Private Trust Co. NA grew its stake in shares of Textron by 155.6% during the 3rd quarter. Private Trust Co. NA now owns 460 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 280 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Textron during the 2nd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Citigroup started coverage on shares of Textron in a report on Thursday, December 11th. They set a “neutral” rating and a $91.00 price target on the stock. UBS Group dropped their target price on Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. TD Cowen cut their price target on Textron from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, October 24th. Weiss Ratings downgraded Textron from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $94.00 price objective on shares of Textron in a research report on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $91.25.

Textron Trading Down 0.6%

Shares of TXT stock opened at $93.27 on Tuesday. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.84. The stock’s fifty day moving average is $85.33 and its two-hundred day moving average is $82.99. The firm has a market capitalization of $16.44 billion, a P/E ratio of 20.50, a PEG ratio of 1.40 and a beta of 1.00.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. Textron had a net margin of 5.81% and a return on equity of 14.16%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Friday, December 12th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, December 12th. Textron’s dividend payout ratio (DPR) is 1.76%.

About Textron

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.