Sippican Capital Advisors Buys New Position in Textron Inc. $TXT

Sippican Capital Advisors purchased a new position in shares of Textron Inc. (NYSE:TXT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,500 shares of the aerospace company’s stock, valued at approximately $201,000.

A number of other institutional investors have also modified their holdings of TXT. Nuveen LLC purchased a new position in shares of Textron during the first quarter valued at approximately $89,403,000. Millennium Management LLC raised its holdings in Textron by 128.7% in the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock valued at $80,416,000 after acquiring an additional 626,346 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Textron by 5.6% during the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock worth $590,059,000 after purchasing an additional 433,567 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Textron by 110.6% during the first quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company’s stock worth $31,960,000 after purchasing an additional 232,277 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in shares of Textron by 150.8% during the first quarter. Vident Advisory LLC now owns 305,112 shares of the aerospace company’s stock worth $22,044,000 after purchasing an additional 183,471 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 3.6%

Shares of Textron stock opened at $81.58 on Friday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. The stock has a market cap of $14.54 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.33 and a beta of 1.13. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average price of $81.62 and a 200 day moving average price of $77.14.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the firm posted $1.54 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is 1.81%.

Wall Street Analyst Weigh In

TXT has been the topic of several recent analyst reports. Susquehanna increased their target price on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Barclays increased their price objective on shares of Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a research report on Wednesday. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Morgan Stanley lifted their target price on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Textron currently has an average rating of “Hold” and an average price target of $92.45.

Insider Activity

In other news, EVP Julie G. Duffy sold 28,543 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the transaction, the executive vice president directly owned 37,624 shares of the company’s stock, valued at approximately $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

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.