Paradigm Asset Management Co. LLC Increases Position in Textron Inc. $TXT

Paradigm Asset Management Co. LLC lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 14.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,800 shares of the aerospace company’s stock after acquiring an additional 1,600 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Textron were worth $1,028,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TXT. LPL Financial LLC boosted its holdings in shares of Textron by 4.9% in the 1st quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company’s stock worth $6,483,000 after buying an additional 4,204 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Textron during the 1st quarter worth approximately $545,000. TD Asset Management Inc raised its holdings in shares of Textron by 2.2% in the 1st quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company’s stock worth $69,776,000 after purchasing an additional 20,733 shares during the period. Millennium Management LLC lifted its stake in Textron by 128.7% in the first quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock valued at $80,416,000 after purchasing an additional 626,346 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Textron during the first quarter valued at $304,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Up 2.0%

Shares of Textron stock opened at $82.05 on Friday. 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 Inc. has a 1 year low of $57.70 and a 1 year high of $89.28. The firm has a market cap of $14.46 billion, a PE ratio of 18.03, a PEG ratio of 1.30 and a beta of 1.13. The company has a 50 day simple moving average of $82.32 and a two-hundred day simple moving average of $79.16.

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

Textron Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TXT shares. JPMorgan Chase & Co. lowered 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 dropped their price objective on shares of Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Wall Street Zen upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 27th. Sanford C. Bernstein restated a “market perform” rating and set a $90.00 price target on shares of Textron in a research note on Monday, October 27th. Finally, UBS Group reduced their price objective on shares of Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $92.15.

Textron Company 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.