IFM Investors Pty Ltd Reduces Holdings in Textron Inc. $TXT

Key Points

• IFM Investors Pty Ltd has reduced its stake in Textron Inc. by 44.6% during Q2, now holding 9,587 shares valued at approximately $770,000.
• Analyst ratings for Textron show a consensus of "Moderate Buy" with an average target price of $92.67 after several firms adjusted their price targets.
• Textron announced a quarterly dividend of $0.02 per share, which will be paid on October 1st, symbolizing an annual yield of 0.1%.

IFM Investors Pty Ltd lowered its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 44.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,587 shares of the aerospace company's stock after selling 7,707 shares during the period. IFM Investors Pty Ltd's holdings in Textron were worth $770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new position in Textron in the first quarter worth approximately $25,000. Harvest Fund Management Co. Ltd grew 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 purchasing 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. Federated Hermes Inc. increased its position 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 purchasing an additional 263 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock valued at $61,000 after buying an additional 465 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and lifted their target price for the company from $73.00 to $88.00 in a report on Monday, July 28th. Jefferies Financial Group reissued a "buy" rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 price target (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Finally, Morgan Stanley lifted their price objective on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently 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 stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the transaction, 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 SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Textron Stock Down 0.7%

TXT stock opened at $82.93 on Wednesday. The company's 50 day moving average price is $80.86 and its 200 day moving average price is $76.17. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.36 and a beta of 1.14. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly 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. Textron had a net margin of 5.80% and a return on equity of 14.26%. The company had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same quarter in the previous year, the business posted $1.54 EPS. The firm's revenue was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

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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