Advisors Asset Management Inc. Reduces Stake in Textron Inc. $TXT

Key Points

• Advisors Asset Management Inc. has reduced its stake in Textron Inc. by 18.2%, holding 22,659 shares worth $1,637,000 after selling 5,052 shares in the first quarter.
• Textron's quarterly earnings beat expectations, reporting $1.55 EPS against a consensus estimate of $1.45, with revenues of $3.72 billion compared to forecasts of $3.64 billion.
• Several analysts have upgraded their ratings and target prices on Textron, with Barclays increasing its target from $95.00 to $105.00 and Susquehanna raising theirs to $95.00.

Advisors Asset Management Inc. lowered its holdings in Textron Inc. (NYSE:TXT - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 22,659 shares of the aerospace company's stock after selling 5,052 shares during the quarter. Advisors Asset Management Inc.'s holdings in Textron were worth $1,637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TXT. Nuveen LLC purchased a new position in shares of Textron in the 1st quarter valued at approximately $89,403,000. Invesco Ltd. lifted its stake 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 valued at $590,059,000 after purchasing an additional 433,567 shares during the period. Voloridge Investment Management LLC lifted its stake in shares of Textron by 35.0% in the 4th quarter. Voloridge Investment Management LLC now owns 980,374 shares of the aerospace company's stock valued at $74,989,000 after purchasing an additional 254,379 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Textron by 110.6% in the 1st quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company's stock valued at $31,960,000 after purchasing an additional 232,277 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Textron by 6,952.0% in the 1st quarter. GAMMA Investing LLC now owns 217,906 shares of the aerospace company's stock valued at $15,744,000 after purchasing an additional 214,816 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Textron Stock Down 0.0%

TXT stock opened at $81.31 on Monday. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $91.30. The business has a fifty day moving average price of $80.94 and a 200-day moving average price of $75.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. The stock has a market capitalization of $14.49 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.33 and a beta of 1.14.

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

Textron Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Susquehanna raised their target price on Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. The Goldman Sachs Group restated a "neutral" rating and issued a $85.00 target price (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Barclays raised their target price on Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Wall Street Zen upgraded Textron from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, UBS Group upgraded Textron from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

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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