Savvy Advisors Inc. Cuts Stock Holdings in Textron Inc. $TXT

Savvy Advisors Inc. decreased its holdings in shares of Textron Inc. (NYSE:TXT) by 16.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,774 shares of the aerospace company’s stock after selling 737 shares during the period. Savvy Advisors Inc.’s holdings in Textron were worth $303,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in Textron during the 1st quarter valued at about $25,000. Assetmark Inc. increased its position in Textron by 191.9% during the 2nd 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 period. Harvest Fund Management Co. Ltd increased its position in 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 purchasing an additional 262 shares during the period. Zions Bancorporation National Association UT purchased a new position in Textron during the 1st quarter valued at about $41,000. Finally, Federated Hermes Inc. increased its position in Textron by 48.8% during the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock valued at $58,000 after purchasing an additional 263 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

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

Textron Stock Up 1.9%

TXT stock opened at $80.93 on Friday. The firm has a 50 day moving average of $82.36 and a 200 day moving average of $78.73. The stock has a market capitalization of $14.26 billion, a PE ratio of 17.79, a price-to-earnings-growth 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. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $89.28.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $3.60 billion during 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%. Textron’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the business earned $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business 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 $0.02 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is 1.76%.

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.