Credit Agricole S A Has $4.02 Million Position in Textron Inc. $TXT

Key Points

• Credit Agricole S A increased its stake in Textron Inc. by 11.3%, bringing its total holdings to 55,686 shares valued at approximately $4.02 million.
• Textron reported a quarterly earnings per share (EPS) of $1.55, exceeding the consensus estimate and showing a revenue increase of 5.4% year-over-year.
• The company has declared a quarterly dividend of $0.02, with shareholders of record set to receive it on October 1st, resulting in a 0.1% dividend yield.

Credit Agricole S A increased its position in Textron Inc. (NYSE:TXT - Free Report) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,686 shares of the aerospace company's stock after buying an additional 5,653 shares during the quarter. Credit Agricole S A's holdings in Textron were worth $4,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TXT. Banque Cantonale Vaudoise purchased a new position in Textron in the first quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd lifted its holdings 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 valued at $39,000 after acquiring an additional 262 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Textron during the 1st quarter worth $41,000. Optiver Holding B.V. acquired a new stake in Textron in the 4th quarter valued at $56,000. Finally, Federated Hermes Inc. raised its position in Textron by 48.8% in the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock valued at $58,000 after purchasing an additional 263 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Barclays lifted 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. Susquehanna upped their target price 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. Jefferies Financial Group reaffirmed a "buy" rating and set a $95.00 price target (up from $85.00) on shares of Textron in a report on Thursday, June 12th. Finally, Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Textron has an average rating of "Moderate Buy" and an average price target of $92.67.

Insider Buying and Selling

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Textron Stock Performance

TXT stock traded down $1.50 during trading on Thursday, hitting $80.39. 200,690 shares of the company's stock traded hands, compared to its average volume of 1,505,868. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $91.48. The stock has a fifty day moving average price of $80.69 and a two-hundred day moving average price of $75.01. 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 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. Textron's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's payout ratio is presently 1.81%.

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.