9,891 Shares in Textron Inc. $TXT Purchased by Teza Capital Management LLC

Key Points

• Teza Capital Management LLC has acquired a new position in Textron Inc. by purchasing 9,891 shares valued at around $715,000 during the first quarter.
• Textron's stock opened at $81.31, with a market capitalization of $14.49 billion, and the company reported earnings of $1.55 per share, exceeding analyst expectations.
• The company announced a quarterly dividend of $0.02 per share, with an annualized rate of $0.08, representing a yield of 0.1%.

Teza Capital Management LLC purchased a new position in shares of Textron Inc. (NYSE:TXT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,891 shares of the aerospace company's stock, valued at approximately $715,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TXT. Banque Cantonale Vaudoise purchased a new position in Textron in the first quarter valued at about $25,000. Harvest Fund Management Co. Ltd boosted its stake in Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock valued at $39,000 after acquiring an additional 262 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Textron in the first quarter valued at about $41,000. Federated Hermes Inc. boosted its stake 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 last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Textron by 123.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock valued at $61,000 after acquiring an additional 465 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Performance

Textron stock opened at $81.31 on Friday. The firm's 50 day simple moving average is $80.94 and its 200 day simple moving average is $75.38. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $14.49 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $91.30.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.10. The business had revenue of $3.72 billion for 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%. Textron's revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company 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 dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron's dividend payout ratio is 1.81%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Susquehanna boosted their target price on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. 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 note on Tuesday, July 29th. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 price target (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. UBS Group upgraded 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 note on Monday, July 28th. Finally, Jefferies Financial Group restated a "buy" rating and set a $95.00 price target (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.67.

Insiders Place Their Bets

In related news, EVP Julie G. Duffy sold 28,543 shares of the company'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 of the company's stock, valued at approximately $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 accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

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.

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