Citizens Financial Group Inc. RI Buys Shares of 12,753 Textron Inc. $TXT

Citizens Financial Group Inc. RI purchased a new position in Textron Inc. (NYSE:TXT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,753 shares of the aerospace company’s stock, valued at approximately $1,078,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its holdings in Textron by 2.9% in 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 in the last quarter. Moody National Bank Trust Division raised its position in shares of Textron by 1.2% in the 2nd quarter. Moody National Bank Trust Division now owns 12,139 shares of the aerospace company’s stock worth $975,000 after purchasing an additional 141 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Textron by 18.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 998 shares of the aerospace company’s stock worth $80,000 after purchasing an additional 158 shares in the last quarter. Fifth Third Bancorp grew its position in Textron by 2.3% during the 2nd quarter. Fifth Third Bancorp now owns 7,063 shares of the aerospace company’s stock valued at $567,000 after purchasing an additional 159 shares during the last quarter. Finally, CX Institutional increased its stake in Textron by 6.8% during the 3rd quarter. CX Institutional now owns 2,529 shares of the aerospace company’s stock valued at $214,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Up 0.6%

TXT stock opened at $94.06 on Thursday. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.40 and a beta of 1.00. 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 business’s 50-day moving average is $85.88 and its two-hundred day moving average is $83.16. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.58.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. The firm 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 business’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 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, analysts forecast 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 Thursday, January 1st. Shareholders of record on Friday, December 12th were given a $0.02 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. 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 note on Monday, October 27th. TD Cowen reduced their target price on Textron from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, October 24th. UBS Group lowered their price target on Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Finally, Citigroup lifted their price objective on Textron from $91.00 to $107.00 and gave the stock a “neutral” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.58.

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.