Diversified Trust Co Makes New $844,000 Investment in Textron Inc. $TXT

Key Points

• Diversified Trust Co invested $844,000 in Textron Inc., acquiring 10,514 shares, marking a significant new position in the aerospace company.
• Textron reported a quarterly EPS of $1.55, exceeding analysts' estimates, with a revenue of $3.72 billion, indicating a 5.4% year-over-year increase.
• The company plans to distribute a quarterly dividend of $0.02 per share on October 1st, which reflects a modest annualized yield of 0.1%.

Diversified Trust Co bought a new position in Textron Inc. (NYSE:TXT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,514 shares of the aerospace company's stock, valued at approximately $844,000.

A number of other large investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of 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 worth $824,408,000 after acquiring an additional 76,972 shares during the period. Invesco Ltd. boosted its holdings 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 acquiring an additional 433,567 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Textron by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company's stock worth $89,838,000 after acquiring an additional 120,577 shares during the period. Nuveen LLC bought a new position in shares of Textron in the first quarter worth $89,403,000. Finally, Millennium Management LLC boosted its holdings in shares of Textron by 128.7% in the first quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company's stock worth $80,416,000 after acquiring an additional 626,346 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the company's 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 transaction, the executive vice president owned 37,624 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company's stock.

Textron Trading Down 0.1%

NYSE TXT opened at $83.52 on Tuesday. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $91.30. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $80.89 and a 200-day moving average of $76.12. The firm has a market cap of $14.88 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, beating analysts' consensus estimates 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%.Textron's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, sell-side analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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

Analyst Upgrades and Downgrades

TXT has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. UBS Group raised Textron from a "sell" rating to a "neutral" rating and raised their price target for the stock from $73.00 to $88.00 in a report on Monday, July 28th. Barclays lifted their price objective on Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Wall Street Zen lowered Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Susquehanna lifted 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 six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $92.67.

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.

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