Capital Management Corp VA Makes New $789,000 Investment in Textron Inc. $TXT

Key Points

• Capital Management Corp VA invested approximately $789,000 in Textron Inc., acquiring 9,832 shares during the second quarter.
• Textron's stock recently opened at $83.75 and recorded a quarterly EPS of $1.55, exceeding analysts' expectations by $0.10.
• The company announced a quarterly dividend of $0.02 per share, reflecting an annualized yield of 0.1% and a payout ratio of 1.81%.

Capital Management Corp VA bought a new stake in Textron Inc. (NYSE:TXT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,832 shares of the aerospace company's stock, valued at approximately $789,000.

Several other institutional investors have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its holdings in Textron by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company's stock worth $824,408,000 after acquiring an additional 76,972 shares during the last quarter. Invesco Ltd. boosted its holdings in Textron by 5.6% during 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. Goldman Sachs Group Inc. increased its stake in Textron by 10.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company's stock valued at $89,838,000 after buying an additional 120,577 shares during the last quarter. Nuveen LLC purchased a new position in shares of Textron in the 1st quarter worth approximately $89,403,000. Finally, Millennium Management LLC boosted its stake in shares of Textron by 128.7% in the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company's stock worth $80,416,000 after buying an additional 626,346 shares during the last quarter. Institutional investors own 86.03% of the company's stock.

Textron Stock Up 2.5%

Textron stock opened at $83.75 on Wednesday. The firm has a 50 day simple moving average of $81.82 and a 200 day simple moving average of $77.26. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $91.30. The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.33 and a beta of 1.13.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping 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 firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the company earned $1.54 earnings per share. The business'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 predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron's 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 that occurred on Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the sale, the executive vice president owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

TXT has been the topic of several research analyst reports. UBS Group raised 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 research report on Monday, July 28th. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 price target (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Wall Street Zen raised shares of Textron from a "buy" rating to a "strong-buy" rating in a research report on Saturday. 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 research report on Thursday, July 17th. Finally, Susquehanna upped 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. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Textron has a consensus rating of "Hold" and a consensus target price of $92.45.

Textron 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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