Forum Financial Management LP Reduces Stock Holdings in Textron Inc. $TXT

Forum Financial Management LP cut its stake in Textron Inc. (NYSE:TXT) by 8.3% in the 2nd quarter, Holdings Channel reports. The firm owned 4,882 shares of the aerospace company’s stock after selling 443 shares during the period. Forum Financial Management LP’s holdings in Textron were worth $392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new position in shares of Textron during the first quarter valued at about $25,000. Harvest Fund Management Co. Ltd boosted 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 acquiring an additional 262 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Textron during the 1st quarter worth approximately $41,000. Federated Hermes Inc. raised its position 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 acquiring an additional 263 shares in the last quarter. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of Textron in the 2nd quarter valued at approximately $60,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Up 2.1%

NYSE:TXT opened at $81.13 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.69. The firm has a market cap of $14.46 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.32 and a beta of 1.13. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $89.28. The firm has a 50-day simple moving average of $82.32 and a two-hundred day simple moving average of $78.14.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted $1.40 earnings per share. The business’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. Analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders 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 annualized dividend and a dividend yield of 0.1%. Textron’s payout ratio is currently 1.81%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TXT. Barclays increased their price objective on Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Morgan Stanley increased their price target on shares of Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Wall Street Zen lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 19th. TD Cowen decreased their target price on shares of Textron from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday. Finally, UBS Group lowered their target price on shares of Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.33.

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.