Stiles Financial Services Inc Acquires New Shares in Textron Inc. $TXT

Stiles Financial Services Inc acquired a new stake in shares of Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent filing with the SEC. The fund acquired 2,596 shares of the aerospace company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Textron during the 1st quarter valued at $25,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Textron by 100.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 262 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Textron in the 1st quarter worth about $41,000. Federated Hermes Inc. boosted its holdings in shares of Textron by 48.8% in the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock worth $58,000 after purchasing an additional 263 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its holdings in shares of Textron by 54.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 850 shares of the aerospace company’s stock worth $68,000 after purchasing an additional 300 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TXT. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Saturday. UBS Group upgraded Textron from a “sell” rating to a “neutral” rating and increased their target price for the company from $73.00 to $88.00 in a report on Monday, July 28th. Susquehanna upped their price target on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Morgan Stanley upped their price target on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Finally, Barclays upped their price target on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $92.45.

Textron Stock Performance

Shares of TXT opened at $81.58 on Friday. The business’s fifty day simple moving average is $81.62 and its two-hundred day simple moving average is $77.12. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.30. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.38 and a beta of 1.13.

Textron (NYSE:TXT) last released its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%.Textron’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron’s dividend payout ratio is presently 1.81%.

Insider Activity

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the sale, the executive vice president directly owned 37,624 shares of the company’s stock, valued at approximately $2,986,216.88. This trade represents a 43.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

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.