Textron Inc. $TXT Shares Purchased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Textron Inc. by 68.4%, now holding 15,740 shares valued at approximately $1.1 million as of the latest SEC filing.
• Textron reported quarterly earnings of $1.55 per share, exceeding analysts' expectations of $1.45, with a revenue of $3.72 billion, marking a 5.4% increase year-over-year.
• The company has recently announced a quarterly dividend of $0.02 per share, set to be paid on October 1st, representing an annualized dividend yield of 0.1%.

Jacobs Levy Equity Management Inc. increased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 68.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,740 shares of the aerospace company's stock after acquiring an additional 6,393 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Textron were worth $1,137,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Brooklyn Investment Group raised its stake in shares of Textron by 10.3% during the 1st quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company's stock worth $120,000 after acquiring an additional 156 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Textron by 7.4% during the 1st 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 in the last quarter. Transce3nd LLC raised its stake in shares of Textron by 14.0% during the 1st quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock worth $116,000 after acquiring an additional 199 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Textron by 22.9% during 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 in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of Textron by 6.4% during 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 in the last quarter. Institutional investors own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TXT. The Goldman Sachs Group reiterated a "neutral" rating and set a $85.00 price objective (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Barclays upped their price target on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Jefferies Financial Group restated a "buy" rating and set a $95.00 price target (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Wall Street Zen upgraded shares of Textron from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 6th. Finally, Susquehanna upped their price target on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $92.67.

Textron Stock Performance

Shares of NYSE:TXT traded down $0.96 during midday trading on Friday, reaching $81.29. The company's stock had a trading volume of 984,901 shares, compared to its average volume of 1,149,266. The stock has a fifty day moving average of $80.93 and a 200 day moving average of $75.69. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. The firm has a market capitalization of $14.49 billion, a PE ratio of 18.39, a P/E/G ratio of 1.34 and a beta of 1.14. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

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, topping analysts' consensus estimates of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The firm's quarterly 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, equities analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed 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. 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 dividend payout ratio (DPR) is presently 1.81%.

Insider Transactions at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 37,624 shares of the company's stock, 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 accessible through this hyperlink. 1.70% of the stock is currently owned by 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.