Prudential Financial Inc. Purchases 87,169 Shares of Textron Inc. $TXT

Prudential Financial Inc. grew its position in shares of Textron Inc. (NYSE:TXT) by 79.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 197,301 shares of the aerospace company’s stock after buying an additional 87,169 shares during the period. Prudential Financial Inc.’s holdings in Textron were worth $15,841,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TXT. Assetmark Inc. lifted its holdings in Textron by 191.9% during the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 213 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Textron in the second quarter valued at approximately $27,000. Banque Cantonale Vaudoise bought a new stake in shares of Textron in the first quarter valued at approximately $25,000. 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 valued at $39,000 after buying an additional 262 shares in the last quarter. Finally, Addison Advisors LLC bought a new position in Textron in the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Textron stock opened at $83.14 on Thursday. The stock has a market cap of $14.65 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.30 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $82.32 and a 200 day simple moving average of $80.30. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $87.94.

Textron (NYSE:TXT) last issued 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 firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the company posted $1.40 EPS. The company’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. On average, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on TXT shares. JPMorgan Chase & Co. dropped their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. UBS Group dropped their price objective on Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. TD Cowen decreased their price target on Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, October 24th. Finally, Wall Street Zen raised shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Monday, October 27th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.