United Services Automobile Association Purchases New Position in Textron Inc. $TXT

Key Points

• United Services Automobile Association has acquired 3,951 shares of Textron Inc. valued at approximately $288,000, highlighting increasing institutional interest in the aerospace company.
• Textron's recent earnings report showed EPS of $1.55, surpassing analyst expectations, alongside a forecast for FY 2025 EPS between 6.000 and 6.200.
• The company announced a quarterly dividend of $0.02, which will be paid on October 1st, reflecting its ongoing commitment to returning value to shareholders.

United Services Automobile Association bought a new position in Textron Inc. (NYSE:TXT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,951 shares of the aerospace company's stock, valued at approximately $288,000.

A number of other hedge funds have also added to or reduced their stakes in TXT. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Textron by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company's stock worth $824,408,000 after purchasing an additional 76,972 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Textron by 5.6% in 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 in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Textron by 10.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company's stock worth $89,838,000 after purchasing an additional 120,577 shares in the last quarter. Nuveen LLC bought a new position in shares of Textron in the 1st quarter worth $89,403,000. Finally, Millennium Management LLC lifted its holdings in shares of Textron by 128.7% in the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company's stock worth $80,416,000 after purchasing an additional 626,346 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

Shares of TXT stock traded up $1.09 on Thursday, reaching $83.80. The stock had a trading volume of 351,796 shares, compared to its average volume of 1,499,597. The stock has a market cap of $14.93 billion, a P/E ratio of 18.94, a price-to-earnings-growth 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 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 50 day simple moving average of $80.98 and a 200 day simple moving average of $75.86.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating 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 company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the business earned $1.54 earnings per share. Textron's quarterly revenue was up 5.4% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

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

Insider Activity

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the sale, the executive vice president directly owned 37,624 shares of the company's stock, valued at $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Textron from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 6th. Morgan Stanley lifted their target price on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. UBS Group raised Textron from a "sell" rating to a "neutral" rating and lifted their target price for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Susquehanna boosted their price objective on Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $92.67.

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.