Board of the Pension Protection Fund Makes New Investment in Textron Inc. $TXT

Key Points

• The Pension Protection Fund acquired 6,700 shares of Textron Inc. in Q2, valued at approximately $538,000, as reported in a recent SEC filing.
• Textron reported strong Q2 earnings, with $1.55 earnings per share, beating estimates and achieving a revenue increase of 5.4% year-over-year.
• Textron's quarterly dividend of $0.02 per share was announced, reflecting a dividend yield of 0.1%, with a payout ratio of 1.81%.

Board of the Pension Protection Fund acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,700 shares of the aerospace company's stock, valued at approximately $538,000.

Other large investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in Textron during the first 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 buying an additional 262 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Textron during the 1st quarter worth approximately $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 buying an additional 263 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its stake in shares of Textron by 54.5% during the 2nd quarter. ST Germain D J Co. Inc. now owns 850 shares of the aerospace company's stock worth $68,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Trading Down 3.6%

Shares of TXT stock opened at $81.58 on Friday. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.30. The stock has a market cap of $14.54 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.33 and a beta of 1.13. The business has a fifty day simple moving average of $81.62 and a 200-day simple moving average of $77.14. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

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

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis 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 1.81%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Textron in a research report on Wednesday. Susquehanna increased their price objective on Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Barclays raised their price objective on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $73.00 to $88.00 in a report on Monday, July 28th. Finally, Morgan Stanley increased their target price on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $92.45.

Insider Buying and Selling at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the transaction, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by company insiders.

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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