Truist Financial Corp Sells 515 Shares of Textron Inc. $TXT

Truist Financial Corp decreased its stake in Textron Inc. (NYSE:TXT) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,674 shares of the aerospace company’s stock after selling 515 shares during the quarter. Truist Financial Corp’s holdings in Textron were worth $1,259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Enclave Advisors LLC purchased a new position in shares of Textron in the 2nd quarter worth approximately $276,000. V Square Quantitative Management LLC boosted its holdings in shares of Textron by 33.6% in the 2nd quarter. V Square Quantitative Management LLC now owns 3,487 shares of the aerospace company’s stock worth $280,000 after purchasing an additional 876 shares during the period. Avior Wealth Management LLC purchased a new position in shares of Textron in the 2nd quarter worth approximately $218,000. SC&H Financial Advisors Inc. boosted its holdings in shares of Textron by 18.5% in the 2nd quarter. SC&H Financial Advisors Inc. now owns 3,688 shares of the aerospace company’s stock worth $296,000 after purchasing an additional 577 shares during the period. Finally, ORG Wealth Partners LLC boosted its holdings in shares of Textron by 64.4% in the 2nd quarter. ORG Wealth Partners LLC now owns 2,091 shares of the aerospace company’s stock worth $169,000 after purchasing an additional 819 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the sale, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TXT. Barclays lifted their target price on Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. UBS Group upgraded Textron from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $73.00 to $88.00 in a report on Monday, July 28th. The Goldman Sachs Group restated a “neutral” rating and set a $85.00 price objective (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Textron in a report on Wednesday, October 8th. Finally, Susquehanna boosted their price objective on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a report on Friday, July 25th. 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, the stock presently has an average rating of “Hold” and a consensus price target of $92.45.

Textron Price Performance

Shares of TXT stock opened at $81.58 on Monday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. The stock has a market capitalization of $14.54 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.32 and a beta of 1.13. The stock has a fifty day simple moving average of $81.62 and a two-hundred day simple moving average of $77.15. 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 (NYSE:TXT) last issued its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the business earned $1.54 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

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.