Neuberger Berman Group LLC Buys 15,984 Shares of Textron Inc. $TXT

Neuberger Berman Group LLC increased its stake in shares of Textron Inc. (NYSE:TXT) by 2.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 755,850 shares of the aerospace company’s stock after buying an additional 15,984 shares during the period. Neuberger Berman Group LLC owned about 0.42% of Textron worth $60,687,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its stake in Textron by 2.9% in the second quarter. Hantz Financial Services Inc. now owns 4,963 shares of the aerospace company’s stock valued at $398,000 after acquiring an additional 140 shares during the last quarter. Moody National Bank Trust Division raised its holdings 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 period. Brooklyn Investment Group lifted its stake in Textron by 10.3% in the first quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company’s stock valued at $120,000 after purchasing an additional 156 shares during the last quarter. Fifth Third Bancorp grew its holdings in Textron by 2.3% during the second 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 period. Finally, 3Chopt Investment Partners LLC increased its position in Textron by 3.3% in the second quarter. 3Chopt Investment Partners LLC now owns 5,333 shares of the aerospace company’s stock worth $428,000 after buying an additional 168 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

TXT stock opened at $83.14 on Friday. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $87.94. The stock’s 50 day simple moving average is $82.31 and its 200 day simple moving average is $80.32. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $14.65 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13.

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

Textron Dividend Announcement

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

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a research report on Wednesday, October 8th. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 27th. UBS Group dropped their price objective on shares of Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $90.00 target price on shares of Textron in a research note on Monday, October 27th. Finally, TD Cowen lowered their price target on shares of Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $92.15.

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.