Caisse DE Depot ET Placement DU Quebec Boosts Holdings in Textron Inc. $TXT

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its position in Textron Inc. by 8.1% during the first quarter, now owning 44,100 shares valued at approximately $3.19 million.
• Textron reported a quarterly earnings per share (EPS) of $1.55, exceeding the consensus estimate of $1.45, with year-over-year revenue growth of 5.4%.
• The company declared a quarterly dividend of $0.02 per share, which will be paid on October 1st, reflecting an annual yield of 0.1%.

Caisse DE Depot ET Placement DU Quebec boosted its position in Textron Inc. (NYSE:TXT - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,100 shares of the aerospace company's stock after acquiring an additional 3,300 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Textron were worth $3,186,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC raised its holdings in Textron by 7.5% in the first quarter. AlphaQuest LLC now owns 8,313 shares of the aerospace company's stock valued at $601,000 after acquiring an additional 578 shares in the last quarter. Allstate Corp raised its holdings in Textron by 14.6% in the first quarter. Allstate Corp now owns 6,192 shares of the aerospace company's stock valued at $447,000 after acquiring an additional 788 shares in the last quarter. Norinchukin Bank The increased its stake in Textron by 11.7% in the first quarter. Norinchukin Bank The now owns 8,382 shares of the aerospace company's stock valued at $606,000 after purchasing an additional 877 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Textron by 0.7% in the first 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. Finally, Capital Fund Management S.A. purchased a new position in Textron in the first quarter valued at approximately $4,474,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Insiders Place Their Bets

In related news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction on 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 transaction, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. This trade represents a 43.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

Textron Stock Performance

Shares of TXT traded down $0.66 during mid-day trading on Tuesday, reaching $79.51. 906,558 shares of the company's stock were exchanged, compared to its average volume of 1,505,284. 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 $14.17 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. The business's fifty day simple moving average is $80.88 and its 200-day simple moving average is $75.18. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $91.30.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the firm posted $1.54 EPS. Textron's quarterly revenue 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, equities research analysts expect 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 $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 (DPR) is 1.81%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Susquehanna increased their price target on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and increased their price target for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Wall Street Zen lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley increased their price target on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $85.00 price target (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.67.

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.