Textron Inc. $TXT Shares Sold by Advisors Asset Management Inc.

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. lessened its stake 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 Securities & Exchange Commission. 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 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TXT. Banque Cantonale Vaudoise acquired a new position in Textron in the 1st quarter worth about $25,000. Harvest Fund Management Co. Ltd raised its holdings in Textron by 100.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock worth $39,000 after purchasing an additional 262 shares during the period. Zions Bancorporation National Association UT purchased a new position in Textron during the first quarter valued at $41,000. Federated Hermes Inc. lifted its holdings in Textron by 48.8% during the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock valued at $58,000 after purchasing an additional 263 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Textron by 123.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock valued at $61,000 after purchasing an additional 465 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Price Performance

Shares of TXT stock traded down $0.66 during trading hours on Friday, reaching $81.56. The company had a trading volume of 298,457 shares, compared to its average volume of 1,494,861. 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 stock has a fifty day moving average of $80.96 and a 200-day moving average of $75.62. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 1.32 and a beta of 1.14. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.30.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the business earned $1.54 earnings per share. The business's 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. On average, equities analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.02 per share. 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 (DPR) is presently 1.81%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $95.00 price objective (up from $85.00) on shares of Textron in a report on Thursday, June 12th. UBS Group raised Textron from a "sell" rating to a "neutral" rating and increased their target price for the company from $73.00 to $88.00 in a report on Monday, July 28th. The Goldman Sachs Group reissued a "neutral" rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Barclays increased their target price on Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Morgan Stanley increased their target price on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Insider Transactions at Textron

In related 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 transaction of $2,265,457.91. Following the completion of the sale, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This trade represents 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 accessible through this link. Insiders own 1.70% of the company's stock.

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.