Textron Inc. $TXT Stock Holdings Reduced by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in Textron Inc. (NYSE:TXT) by 35.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,457 shares of the aerospace company’s stock after selling 15,757 shares during the period. QRG Capital Management Inc.’s holdings in Textron were worth $2,404,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC increased its holdings in Textron by 388.5% in the third quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock worth $25,000 after buying an additional 237 shares during the last quarter. Assetmark Inc. lifted its stake 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 last quarter. Atlantic Union Bankshares Corp bought a new stake in Textron in the second quarter worth approximately $27,000. Quent Capital LLC acquired a new position in shares of Textron during the 3rd quarter worth $33,000. Finally, Private Trust Co. NA raised its holdings 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 valued at $39,000 after purchasing an additional 280 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TXT. Susquehanna reiterated a “positive” rating and issued a $110.00 price objective on shares of Textron in a report on Thursday. JPMorgan Chase & Co. reduced their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price target on shares of Textron in a research note on Thursday. Sanford C. Bernstein reissued a “market perform” rating and set a $94.00 price objective on shares of Textron in a report on Tuesday, January 6th. Finally, UBS Group boosted their target price on Textron from $89.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $96.33.

Textron Stock Up 0.9%

TXT stock opened at $94.38 on Tuesday. The stock has a market capitalization of $16.63 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.41 and a beta of 1.00. The company has a 50-day moving average of $86.63 and a two-hundred day moving average of $83.44. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, topping 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 business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Friday, December 12th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, December 12th. Textron’s dividend payout ratio is currently 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.