American Century Companies Inc. Sells 117,549 Shares of Textron Inc. $TXT

Key Points

• American Century Companies Inc. has reduced its stake in Textron Inc. by 60.3%, holding 77,454 shares valued at approximately $5.60 million after selling 117,549 shares in Q1.
• Several hedge funds have increased their positions in Textron, with 86.03% of the stock now owned by institutional investors, indicating strong interest in the company.
• Textron reported a 5.4% year-over-year revenue increase for the quarter, achieving revenue of $3.72 billion and earnings per share of $1.55, surpassing analyst expectations.

American Century Companies Inc. reduced its holdings in Textron Inc. (NYSE:TXT - Free Report) by 60.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,454 shares of the aerospace company's stock after selling 117,549 shares during the period. American Century Companies Inc.'s holdings in Textron were worth $5,596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in shares of Textron during the 1st quarter worth about $25,000. Harvest Fund Management Co. Ltd raised its stake in shares of Textron by 100.0% during 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 in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Textron during the 1st quarter worth about $41,000. Federated Hermes Inc. raised its stake in shares of Textron by 48.8% during the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock worth $58,000 after purchasing an additional 263 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Textron by 123.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after purchasing an additional 465 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on TXT shares. Susquehanna raised their price objective on Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Wall Street Zen downgraded Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. The Goldman Sachs Group reissued a "neutral" rating and issued a $85.00 price objective (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. UBS Group raised Textron from a "sell" rating to a "neutral" rating and raised their price objective for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Finally, Barclays raised 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. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.67.

Textron Price Performance

TXT stock traded down $0.81 during trading on Tuesday, hitting $79.36. The company had a trading volume of 551,583 shares, compared to its average volume of 1,502,689. The company has a fifty day moving average price of $80.88 and a two-hundred day moving average price of $75.18. 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 company has a market cap of $14.14 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.31 and a beta of 1.14. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.30.

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

Textron Announces Dividend

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

Insider Buying and Selling

In related news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

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.