Moran Wealth Management LLC Trims Stake in Textron Inc. $TXT

Key Points

• Moran Wealth Management LLC significantly reduced its holdings in Textron Inc. by 91.8% during the second quarter, selling 96,499 shares and retaining only 8,601 shares valued at $691,000.
• Several institutional investors have adjusted their stakes in Textron, with 86.03% of the stock currently held by hedge funds and other institutional investors.
• Textron recently reported strong quarterly earnings, with $1.55 earnings per share, exceeding estimates, and an increase in revenue of 5.4% compared to the same quarter last year.

Moran Wealth Management LLC trimmed its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 91.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,601 shares of the aerospace company's stock after selling 96,499 shares during the quarter. Moran Wealth Management LLC's holdings in Textron were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Moody National Bank Trust Division lifted its stake in Textron by 1.2% during the second quarter. Moody National Bank Trust Division now owns 12,139 shares of the aerospace company's stock worth $975,000 after purchasing an additional 141 shares during the last quarter. Brooklyn Investment Group lifted its stake in Textron by 10.3% during the first quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company's stock worth $120,000 after purchasing an additional 156 shares during the last quarter. Fifth Third Bancorp lifted its stake in Textron by 2.3% during the second quarter. Fifth Third Bancorp now owns 7,063 shares of the aerospace company's stock worth $567,000 after purchasing an additional 159 shares during the last quarter. 3Chopt Investment Partners LLC lifted its stake in Textron by 3.3% during the second quarter. 3Chopt Investment Partners LLC now owns 5,333 shares of the aerospace company's stock worth $428,000 after purchasing an additional 168 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Textron by 7.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock valued at $207,000 after acquiring an additional 197 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the transaction, the executive vice president owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TXT. Morgan Stanley boosted their target price on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Weiss Ratings reissued a "hold (c+)" rating on shares of Textron in a research note on Wednesday, October 8th. Barclays boosted their target price on Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Susquehanna boosted their target price on Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised Textron from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Textron has an average rating of "Hold" and an average price target of $92.45.

Textron Stock Down 1.0%

Shares of NYSE:TXT opened at $81.66 on Friday. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $91.30. The company has a market cap of $14.55 billion, a PE ratio of 18.48, a P/E/G ratio of 1.34 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. The stock's 50-day moving average is $82.00 and its 200 day moving average is $77.36.

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, beating analysts' consensus estimates of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the business earned $1.54 EPS. Textron'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. Sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued 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 was Friday, September 12th. Textron's payout ratio is currently 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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