Jacobs Levy Equity Management Inc. Has $1.14 Million Stake in Textron Inc. $TXT

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. lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 68.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,740 shares of the aerospace company's stock after purchasing an additional 6,393 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Textron were worth $1,137,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TXT. Banque Cantonale Vaudoise bought a new stake in shares of Textron during the first quarter worth approximately $25,000. Harvest Fund Management Co. Ltd raised its stake in shares of Textron by 100.0% during the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock worth $39,000 after buying an additional 262 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Textron during the first quarter worth approximately $41,000. Federated Hermes Inc. raised its stake in shares of Textron by 48.8% during the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock worth $58,000 after buying an additional 263 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Textron by 123.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after buying an additional 465 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 completion of the sale, the executive vice president owned 37,624 shares of the company's stock, valued at $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TXT shares. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and upped their target price for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Wall Street Zen raised shares of Textron from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 6th. Susquehanna upped their target price 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. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $85.00 target price (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Textron presently has a consensus rating of "Moderate Buy" and an average target price of $92.67.

Textron Stock Down 0.7%

Shares of TXT stock traded down $0.61 during trading hours on Wednesday, hitting $82.82. 2,042,620 shares of the company were exchanged, compared to its average volume of 1,180,424. The business has a 50 day moving average of $80.98 and a two-hundred day moving average of $75.86. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $91.30. The company has a market capitalization of $14.76 billion, a PE ratio of 18.74, a PEG ratio of 1.36 and a beta of 1.14.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (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 the consensus estimate of $3.64 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. The firm's 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. Analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron's dividend payout ratio is currently 1.81%.

About Textron

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.