11,728 Shares in Textron Inc. $TXT Purchased by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC has acquired 11,728 shares of Textron Inc. valued at approximately $942,000 as part of their new position in the aerospace company.
• Twelve investment analysts have provided ratings on Textron, with six issuing a Buy rating and six rating it as Hold, indicating a consensus price target of $92.67.
• Textron's earnings report showed a profit of $1.55 per share for the last quarter, surpassing analyst expectations, while the company also declared a quarterly dividend of $0.02.

Pallas Capital Advisors LLC purchased a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,728 shares of the aerospace company's stock, valued at approximately $942,000.

Other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Textron by 31.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company's stock worth $2,776,000 after buying an additional 9,082 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Textron by 16.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company's stock worth $1,474,000 after buying an additional 2,803 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Textron by 4.9% during the first quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company's stock worth $6,483,000 after buying an additional 4,204 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Textron during the first quarter worth $545,000. Finally, TD Asset Management Inc increased its holdings in shares of Textron by 2.2% during the first quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company's stock worth $69,776,000 after buying an additional 20,733 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Up 0.4%

Shares of TXT stock traded up $0.36 on Tuesday, reaching $83.85. 127,058 shares of the company were exchanged, compared to its average volume of 1,499,862. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.36 and a beta of 1.14. The company has a 50-day moving average of $80.89 and a 200-day moving average of $76.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. Textron Inc. has a one year low of $57.70 and a one year high of $91.30.

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

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's dividend payout ratio is currently 1.81%.

Insider Buying and Selling at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the sale, the executive vice president owned 37,624 shares in the company, valued at $2,986,216.88. This represents a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TXT has been the subject of a number of recent research reports. Susquehanna increased 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. Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Jefferies Financial Group reaffirmed a "buy" rating and set a $95.00 price target (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Barclays upped their price target on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and upped their price target for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $92.67.

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.