28,753 Shares in Textron Inc. $TXT Acquired by Strs Ohio

Strs Ohio purchased a new position in shares of Textron Inc. (NYSE:TXT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,753 shares of the aerospace company’s stock, valued at approximately $2,309,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in shares of Textron during the 1st quarter worth approximately $25,000. Assetmark Inc. lifted its stake in shares of Textron by 191.9% during the 2nd quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 213 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after acquiring an additional 262 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Textron during the 1st quarter worth approximately $41,000. Finally, Federated Hermes Inc. lifted its stake in shares of Textron by 48.8% during the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock worth $58,000 after acquiring an additional 263 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Textron Trading Down 1.0%

Shares of NYSE:TXT opened at $79.98 on Tuesday. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $89.28. The business’s fifty day simple moving average is $82.34 and its 200-day simple moving average is $78.92. The company has a market capitalization of $14.09 billion, a PE ratio of 17.58, a P/E/G ratio of 1.30 and a beta of 1.13. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the business posted $1.40 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts predict 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 will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, December 12th. Textron’s payout ratio is 1.76%.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of research analyst reports. Sanford C. Bernstein reissued a “market perform” rating and set a $90.00 price target on shares of Textron in a research note on Monday, October 27th. Wall Street Zen raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 27th. Barclays lifted their target price on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. decreased their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Finally, UBS Group decreased their target price on Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $92.15.

About Textron

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.