Aberdeen Group plc Increases Stock Holdings in Textron Inc. $TXT

Key Points

• Aberdeen Group plc increased its stake in Textron Inc. by 118.1%, acquiring an additional 73,326 shares during the first quarter, bringing its total ownership to 135,392 shares valued at approximately $9,782,000.
• Textron's recent quarterly earnings report showed earnings per share (EPS) of $1.55, exceeding expectations, and a revenue of $3.72 billion, which was also above consensus estimates.
• Barclays upgraded Textron's price target from $95.00 to $105.00 and gave the stock an "overweight" rating, while UBS raised its target from $73.00 to $88.00, reflecting positive investor sentiment.

Aberdeen Group plc grew its stake in Textron Inc. (NYSE:TXT - Free Report) by 118.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,392 shares of the aerospace company's stock after purchasing an additional 73,326 shares during the quarter. Aberdeen Group plc owned approximately 0.07% of Textron worth $9,782,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew 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. Graham Capital Management L.P. grew its holdings in shares of Textron by 166.8% during the fourth quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company's stock worth $5,125,000 after buying an additional 41,888 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew 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 grew 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. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Textron during the 1st quarter valued at about $545,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Susquehanna boosted their price target on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research 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, July 26th. Barclays boosted 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, The Goldman Sachs Group reissued a "neutral" rating and set a $85.00 price target (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.67.

Insider Buying and Selling

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Textron Stock Up 2.5%

Shares of TXT stock traded up $1.9480 during trading hours on Friday, reaching $81.4280. 876,749 shares of the stock were exchanged, compared to its average volume of 1,654,121. The business's fifty day moving average is $80.43 and its two-hundred day moving average is $74.87. 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 12-month low of $57.70 and a 12-month high of $91.48. The firm has a market capitalization of $14.51 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.30 and a beta of 1.16.

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, topping analysts' consensus estimates of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the firm earned $1.54 earnings per share. The business'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. As a group, research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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 paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's dividend payout ratio is currently 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.