26,683 Shares in Textron Inc. $TXT Purchased by Easterly Investment Partners LLC

Key Points

• Easterly Investment Partners LLC has acquired 26,683 shares of Textron Inc. for approximately $2,142,000 during the 2nd quarter, reflecting ongoing institutional interest in the aerospace company.
• Several analysts have recently upgraded Textron's stock rating, with Wall Street Zen moving it from a "buy" to a "strong-buy" rating and Barclays raising their price target to $105.00.
• Textron reported $1.55 earnings per share for the latest quarter, surpassing expectations, and expects to achieve earnings of 6.000-6.200 EPS for FY 2025.

Easterly Investment Partners LLC acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 26,683 shares of the aerospace company's stock, valued at approximately $2,142,000.

A number of other large investors also recently bought and sold shares of the business. Banque Cantonale Vaudoise purchased a new position in shares of Textron in the first quarter worth $25,000. Harvest Fund Management Co. Ltd grew its position in Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock worth $39,000 after purchasing an additional 262 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Textron in the 1st quarter valued at about $41,000. Federated Hermes Inc. lifted its holdings in Textron by 48.8% in the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock valued at $58,000 after acquiring an additional 263 shares during the period. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of Textron during the 2nd quarter worth approximately $60,000. Institutional investors own 86.03% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TXT shares. Wall Street Zen upgraded Textron from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Barclays boosted their price target on Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Susquehanna lifted their target price on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $73.00 to $88.00 in a research report on Monday, July 28th. Finally, Morgan Stanley upped their price objective on shares of 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $92.45.

Textron Price Performance

Shares of TXT opened at $81.66 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.30. The company has a market cap of $14.55 billion, a P/E ratio of 18.48, a PEG ratio of 1.34 and a beta of 1.13. The firm's 50 day moving average price is $82.00 and its 200 day moving average price is $77.36.

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

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a $0.02 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron's dividend payout ratio is 1.81%.

Insider Buying and Selling

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 shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the transaction, the executive vice president 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 the SEC website. Insiders own 1.70% of the company's stock.

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.

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