Amundi Buys 6,177 Shares of Textron Inc. $TXT

Key Points

• Amundi Investments increased its stake in Textron Inc. by 6.2%, acquiring an additional 6,177 shares, bringing their total ownership to approximately 0.06% of the company, valued at $7.1 million.
• Several analysts have recently adjusted their ratings for Textron, with Morgan Stanley raising its price target from $71 to $86, while Jefferies Financial Group increased its target from $85 to $95.
• Textron announced a quarterly dividend of $0.02 per share, payable on October 1st, contributing to an annualized yield of 0.1% based on its current stock price.

Amundi grew its holdings in Textron Inc. (NYSE:TXT - Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,269 shares of the aerospace company's stock after acquiring an additional 6,177 shares during the period. Amundi owned 0.06% of Textron worth $7,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. T. Rowe Price Investment Management Inc. lifted its stake in shares of Textron by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company's stock valued at $824,408,000 after purchasing an additional 76,972 shares during the last quarter. Invesco Ltd. lifted its position in shares of Textron by 5.6% in the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company's stock worth $590,059,000 after buying an additional 433,567 shares during the last quarter. Nuveen LLC bought a new stake in shares of Textron during the 1st quarter worth about $89,403,000. Voloridge Investment Management LLC increased its holdings in shares of Textron by 35.0% during the 4th quarter. Voloridge Investment Management LLC now owns 980,374 shares of the aerospace company's stock valued at $74,989,000 after acquiring an additional 254,379 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Textron by 0.8% during the 1st quarter. Gabelli Funds LLC now owns 973,952 shares of the aerospace company's stock valued at $70,368,000 after acquiring an additional 7,500 shares during the last quarter. Institutional investors own 86.03% of the company's stock.

Textron Stock Performance

Shares of NYSE:TXT traded up $1.20 during trading on Tuesday, hitting $83.43. 1,891,267 shares of the stock were exchanged, compared to its average volume of 1,142,742. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.34 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $91.30. The company's fifty day simple moving average is $80.98 and its 200-day simple moving average is $75.81.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Thursday, July 24th. The aerospace company reported $1.55 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 company posted $1.54 earnings per share. Textron'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. Sell-side analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's payout ratio is 1.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TXT shares. Barclays boosted their target price on Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Susquehanna upped their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. 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 research report on Tuesday, July 1st. Finally, UBS Group raised Textron from a "sell" rating to a "neutral" rating and raised their price target for the company from $73.00 to $88.00 in a research report 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $92.67.

Insiders Place Their Bets

In related news, EVP Julie G. Duffy sold 28,543 shares of the company'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 sale, the executive vice president owned 37,624 shares of the company's stock, 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 legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

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.