3,219 Shares in Textron Inc. $TXT Acquired by Patton Fund Management Inc.

Key Points

• Patton Fund Management Inc. acquired 3,219 shares of Textron Inc. valued at approximately $258,000 in the second quarter, contributing to the 86.03% institutional ownership of the company's stock.
• Several analysts have issued upgraded ratings for Textron's stock, with Barclays raising the target price from $95.00 to $105.00 and Jefferies increasing theirs from $85.00 to $95.00.
• Textron's recent quarterly earnings showed an EPS of $1.55, exceeding expectations, with revenue reaching $3.72 billion—an increase of 5.4% from the previous year.

Patton Fund Management Inc. bought a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,219 shares of the aerospace company's stock, valued at approximately $258,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its stake in shares of Textron by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company's stock valued at $824,408,000 after buying an additional 76,972 shares during the period. Invesco Ltd. increased its position in shares of Textron by 5.6% during the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company's stock valued at $590,059,000 after acquiring an additional 433,567 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Textron by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company's stock valued at $89,838,000 after buying an additional 120,577 shares during the period. Nuveen LLC bought a new stake in shares of Textron in the first quarter valued at $89,403,000. Finally, Millennium Management LLC grew its position 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 valued at $80,416,000 after purchasing an additional 626,346 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays lifted their target price on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 target price (up from $85.00) on shares of Textron in a report on Thursday, June 12th. UBS Group upgraded Textron from a "sell" rating to a "neutral" rating and raised their price objective for the company from $73.00 to $88.00 in a research report on Monday, July 28th. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Finally, Wall Street Zen lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 20th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Textron currently has an average rating of "Moderate Buy" and an average price target of $92.45.

Insider Activity at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Textron Stock Performance

Shares of TXT opened at $83.57 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The company has a market capitalization of $14.89 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.36 and a beta of 1.14. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $91.30. The company's 50 day simple moving average is $80.75 and its 200 day simple moving average is $76.36.

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 the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $0.02 per share. 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 payout ratio is 1.81%.

About Textron

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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