Textron Inc. $TXT Position Trimmed by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC significantly reduced its holdings in Textron Inc. by 70.8%, ending the first quarter with 74,776 shares valued at approximately $5.4 million.
• Textron recently reported earnings of $1.55 per share, exceeding analysts' expectations and showing a 5.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.02 per share, with a payout ratio of 1.81%, scheduled for distribution on October 1st.

HighTower Advisors LLC trimmed its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 70.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,776 shares of the aerospace company's stock after selling 181,311 shares during the quarter. HighTower Advisors LLC's holdings in Textron were worth $5,403,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Syon Capital LLC lifted its stake in shares of Textron by 4.5% during the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after buying an additional 153 shares during the period. Exchange Traded Concepts LLC boosted its position in Textron by 7.4% during the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after acquiring an additional 197 shares during the last quarter. Transce3nd LLC boosted its holdings in Textron by 14.0% in the 1st quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock valued at $116,000 after purchasing an additional 199 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Textron by 22.9% in the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after acquiring an additional 208 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Textron by 6.4% in the 1st quarter. Apollon Wealth Management LLC now owns 3,599 shares of the aerospace company's stock worth $260,000 after acquiring an additional 215 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Price Performance

NYSE:TXT traded up $1.9480 during mid-day trading on Friday, hitting $81.4280. 876,749 shares of the company's stock traded hands, compared to its average volume of 1,654,121. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The firm's 50 day simple moving average is $80.43 and its 200 day simple moving average is $74.87. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $91.48. The company has a market cap of $14.51 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.30 and a beta of 1.16.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron's payout ratio is 1.81%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TXT shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $85.00 target price (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and upped their target price for the stock from $73.00 to $88.00 in a research note on Monday, July 28th. Jefferies Financial Group reaffirmed a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Susquehanna upped their target price on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, Wall Street Zen downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.67.

Insiders Place Their Bets

In other news, EVP Julie G. Duffy sold 28,543 shares of Textron 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 in the company, valued at $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

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.