Aberdeen Group plc Acquires 9,904 Shares of Textron Inc. $TXT

Key Points

• Aberdeen Group plc increased its holdings in Textron Inc. by 7.3%, acquiring an additional 9,904 shares, bringing their total ownership to approximately 145,296 shares valued at about $11.67 million.
• Insider activity was noted as EVP Julie G. Duffy sold 28,543 shares, reducing her ownership by over 43%, which signals potential shifts in management confidence.
• Textron reported better-than-expected quarterly earnings of $1.55 per share, exceeding analyst estimates of $1.45, with a revenue of $3.72 billion against expectations of $3.64 billion.

Aberdeen Group plc grew its holdings in Textron Inc. (NYSE:TXT - Free Report) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,296 shares of the aerospace company's stock after purchasing an additional 9,904 shares during the period. Aberdeen Group plc owned approximately 0.08% of Textron worth $11,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in shares of Textron by 7.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after buying an additional 197 shares during the last quarter. Inscription Capital LLC bought a new position in shares of Textron in the 1st quarter worth $220,000. State of Alaska Department of Revenue increased its holdings in shares of Textron by 1.0% in the 1st quarter. State of Alaska Department of Revenue now owns 21,373 shares of the aerospace company's stock worth $1,544,000 after buying an additional 220 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Textron in the 1st quarter worth $92,000. Finally, Stonegate Investment Group LLC bought a new position in shares of Textron in the 1st quarter worth $291,000. Institutional investors own 86.03% of the company's stock.

Insider Activity at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. This trade represents a 43.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company's stock.

Textron Trading Down 1.3%

Shares of TXT opened at $82.65 on Thursday. The stock has a market capitalization of $14.73 billion, a P/E ratio of 18.70, a PEG ratio of 1.36 and a beta of 1.13. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $81.92 and a two-hundred day simple moving average of $77.30. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly 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. The business had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given 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 was Friday, September 12th. Textron's dividend payout ratio (DPR) is currently 1.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Textron in a research note on Wednesday, October 8th. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and upped their price objective for the company from $73.00 to $88.00 in a research note on Monday, July 28th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $85.00 price objective (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Wall Street Zen raised shares of Textron from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. 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 research note on Thursday, July 17th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $92.45.

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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