Metis Global Partners LLC Lowers Stock Holdings in Textron Inc. $TXT

Metis Global Partners LLC lessened its stake in Textron Inc. (NYSE:TXT) by 11.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,541 shares of the aerospace company’s stock after selling 868 shares during the period. Metis Global Partners LLC’s holdings in Textron were worth $525,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. increased its holdings in shares of Textron by 4.0% in the second quarter. Harvest Portfolios Group Inc. now owns 24,522 shares of the aerospace company’s stock valued at $1,969,000 after purchasing an additional 945 shares during the period. Savant Capital LLC grew its position in Textron by 54.1% in the 2nd quarter. Savant Capital LLC now owns 17,084 shares of the aerospace company’s stock valued at $1,372,000 after buying an additional 5,995 shares during the last quarter. Twin Capital Management Inc. grew its position in Textron by 5.6% in the 2nd quarter. Twin Capital Management Inc. now owns 12,701 shares of the aerospace company’s stock valued at $1,020,000 after buying an additional 671 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in Textron by 2.6% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 59,013 shares of the aerospace company’s stock valued at $4,739,000 after buying an additional 1,509 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in Textron during the 2nd quarter worth $27,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Sanford C. Bernstein restated a “market perform” rating and issued a $90.00 price objective on shares of Textron in a research report on Monday, October 27th. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $92.15.

Textron Price Performance

Shares of NYSE:TXT opened at $82.51 on Thursday. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86. The business’s 50 day simple moving average is $82.47 and its 200-day simple moving average is $79.57. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $88.23.

Textron (NYSE:TXT) last released 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. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.70 billion. Textron had a return on equity of 14.16% and a net margin of 5.81%.Textron’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company 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 dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, December 12th. Textron’s payout ratio is 1.76%.

Textron 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.