Capital Fund Management S.A. Purchases Shares of 61,917 Textron Inc. $TXT

Key Points

• Capital Fund Management S.A. acquired a new position in Textron Inc., purchasing 61,917 shares valued at approximately $4.47 million in the first quarter.
• Textron reported quarterly earnings of $1.55 per share, surpassing expectations and indicating 5.4% year-over-year revenue growth.
• The company declared a $0.02 quarterly dividend, contributing to an annualized dividend yield of 0.1% and a low dividend payout ratio of 1.81%.

Capital Fund Management S.A. acquired a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,917 shares of the aerospace company's stock, valued at approximately $4,474,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TXT. Invesco Ltd. increased 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 purchasing an additional 433,567 shares during the last quarter. Northern Trust Corp grew its position in Textron by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock valued at $137,971,000 after acquiring an additional 155,384 shares during the last quarter. Nuveen LLC bought a new position in Textron during the first quarter valued at approximately $89,403,000. Balyasny Asset Management L.P. grew its position in Textron by 6,785.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock valued at $94,575,000 after acquiring an additional 1,218,485 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Textron by 97.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock worth $78,872,000 after purchasing an additional 510,085 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Julie G. Duffy sold 28,543 shares of Textron 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 directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This trade represents a 43.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a "neutral" rating and issued a $85.00 target price (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Barclays raised their target price on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Jefferies Financial Group restated 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. Susquehanna raised their target price on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Finally, Morgan Stanley raised their price target on Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. 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 has an average rating of "Moderate Buy" and an average target price of $92.67.

Textron Trading Down 1.7%

TXT stock traded down $1.42 on Thursday, reaching $80.47. The company's stock had a trading volume of 499,549 shares, compared to its average volume of 1,507,543. The business has a fifty day simple moving average of $80.69 and a two-hundred day simple moving average of $75.01. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.48. The firm has a market cap of $14.34 billion, a PE ratio of 18.17, a PEG ratio of 1.33 and a beta of 1.16. 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 (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%.The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, research analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

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

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.