Illinois Municipal Retirement Fund Sells 25,635 Shares of Textron Inc. $TXT

Illinois Municipal Retirement Fund cut its holdings in shares of Textron Inc. (NYSE:TXT) by 24.9% in the 2nd quarter, Holdings Channel reports. The firm owned 77,318 shares of the aerospace company’s stock after selling 25,635 shares during the period. Illinois Municipal Retirement Fund’s holdings in Textron were worth $6,208,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Nuveen LLC bought a new stake in shares of Textron during the 1st quarter worth $89,403,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Textron during the second quarter worth about $66,446,000. Millennium Management LLC lifted its holdings in shares of Textron by 128.7% in the first quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock worth $80,416,000 after acquiring an additional 626,346 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Textron by 5.6% in the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock worth $590,059,000 after acquiring an additional 433,567 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Textron by 110.6% in the 1st quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company’s stock valued at $31,960,000 after purchasing an additional 232,277 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Up 0.5%

Shares of TXT opened at $82.44 on Wednesday. The stock’s 50-day moving average price is $82.41 and its two-hundred day moving average price is $79.54. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $88.38. The company has a market capitalization of $14.53 billion, a PE ratio of 18.12, a PEG ratio of 1.30 and a beta of 1.13. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last issued its quarterly earnings results 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 company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Textron had a return on equity of 14.16% and a net margin of 5.81%.The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, December 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TXT. Weiss Ratings reiterated a “hold (c+)” rating on shares of Textron in a research report on Wednesday, October 8th. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. cut their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Susquehanna increased their target price on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, UBS Group lowered their price objective on Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.15.

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.