Hsbc Holdings PLC Increases Stake in Textron Inc. $TXT

Key Points

• Hsbc Holdings PLC increased its stake in Textron Inc. by 5.7%, owning 904,951 shares worth approximately $65.4 million at the end of the first quarter.
• Textron recently reported $1.55 earnings per share, exceeding analysts' expectations of $1.45, with a revenue of $3.72 billion for the quarter.
• The company also declared a quarterly dividend of $0.02 per share, payable on October 1st, representing an annualized yield of 0.1%.

Hsbc Holdings PLC raised its position in Textron Inc. (NYSE:TXT - Free Report) by 5.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 904,951 shares of the aerospace company's stock after purchasing an additional 48,571 shares during the period. Hsbc Holdings PLC owned 0.50% of Textron worth $65,363,000 at the end of the most recent quarter.

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

Textron Stock Up 0.1%

Shares of TXT opened at $79.4050 on Friday. The firm has a market cap of $14.15 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. 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 company's 50-day moving average price is $80.34 and its 200 day moving average price is $74.83. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.48.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.10. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

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 paid 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 yield of 0.1%. Textron's dividend payout ratio is 1.81%.

Analyst Ratings Changes

TXT has been the topic of several analyst reports. Jefferies Financial Group reiterated a "buy" rating and set a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Morgan Stanley lifted 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. Wall Street Zen lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Barclays boosted their price objective on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Susquehanna boosted their price objective on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a report on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $92.67.

Insider Transactions at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction dated 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 directly owned 37,624 shares in the company, valued at $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is 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.

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