Dark Forest Capital Management LP Acquires Shares of 49,058 Textron Inc. $TXT

Key Points

• Dark Forest Capital Management LP has acquired 49,058 shares of Textron Inc., valued at approximately $3.54 million, indicating growing institutional investment interest in the aerospace company.
• Textron reported EPS of $1.55 for its last quarter, exceeding estimates, with revenue of $3.72 billion marking a 5.4% YOY increase.
• The company declared a quarterly dividend of $0.02 per share, with a payout ratio of 1.81% and a yield of 0.1%, set to be paid on October 1st.

Dark Forest Capital Management LP acquired a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 49,058 shares of the aerospace company's stock, valued at approximately $3,544,000.

Several other large investors also recently added to or reduced their stakes in TXT. Nuveen LLC bought a new stake in Textron during the first quarter valued at $89,403,000. D. E. Shaw & Co. Inc. raised its position in Textron by 97.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock valued at $78,872,000 after purchasing an additional 510,085 shares in the last quarter. Invesco Ltd. raised its position in Textron by 5.6% during the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company's stock valued at $590,059,000 after purchasing an additional 433,567 shares in the last quarter. Voloridge Investment Management LLC raised its position in Textron by 35.0% during the fourth quarter. Voloridge Investment Management LLC now owns 980,374 shares of the aerospace company's stock valued at $74,989,000 after purchasing an additional 254,379 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Textron by 110.6% in the first quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company's stock worth $31,960,000 after buying an additional 232,277 shares during the period. Institutional investors own 86.03% of the company's stock.

Textron Trading Down 0.0%

NYSE:TXT traded down $0.02 during mid-day trading on Friday, reaching $81.31. 1,646,814 shares of the company's stock traded hands, compared to its average volume of 1,144,604. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.30. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.33 and a beta of 1.14. 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 company has a 50 day moving average price of $80.94 and a 200-day moving average price of $75.38.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the business earned $1.54 EPS. Textron's revenue was up 5.4% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side 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 will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron's payout ratio is presently 1.81%.

Wall Street Analysts Forecast Growth

TXT has been the topic of several analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $85.00 price objective (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Susquehanna lifted their price objective on Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Barclays lifted their price objective on Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Morgan Stanley lifted their price objective on Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction that occurred 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 sale, the executive vice president directly owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. The trade was a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company's stock.

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.