National Pension Service Sells 296,049 Shares of Textron Inc. $TXT

Key Points

• The National Pension Service has significantly reduced its stake in Textron Inc. by 82.5% in the first quarter, now holding 62,729 shares valued at approximately $4.53 million.
• Institutional investors own 86.03% of Textron's stock, with notable recent activities including a new position from Nuveen LLC worth $89.4 million and a major increase in holdings by Balyasny Asset Management.
• Textron reported earnings of $1.55 per share for the last quarter, exceeding estimates, while also announcing a $0.02 quarterly dividend payable on October 1st.

National Pension Service lessened its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 82.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,729 shares of the aerospace company's stock after selling 296,049 shares during the period. National Pension Service's holdings in Textron were worth $4,532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TXT. Banque Cantonale Vaudoise purchased a new stake in Textron during the first quarter valued at about $25,000. Harvest Fund Management Co. Ltd raised its position in shares of Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock valued at $39,000 after purchasing an additional 262 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Textron during the 1st quarter valued at approximately $41,000. Optiver Holding B.V. bought a new position in Textron in the 4th quarter worth approximately $56,000. Finally, Federated Hermes Inc. grew its stake in Textron by 48.8% in the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock valued at $58,000 after buying an additional 263 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

Textron Price Performance

Shares of NYSE TXT traded down $0.3040 during mid-day trading on Wednesday, reaching $79.3760. 1,433,705 shares of the company were exchanged, compared to its average volume of 1,533,924. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $91.48. The company's 50 day moving average price is $80.26 and its 200 day moving average price is $74.77. The stock has a market capitalization of $14.15 billion, a PE ratio of 17.96, a PEG ratio of 1.29 and a beta of 1.16. 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 released its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share 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 business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the business posted $1.54 earnings per share. The company's revenue for the quarter was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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 given 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 is Friday, September 12th. Textron's dividend payout ratio (DPR) is presently 1.81%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group upgraded Textron from a "sell" rating to a "neutral" rating and increased their target price for the stock from $73.00 to $88.00 in a research report on Monday, July 28th. Barclays increased their price objective on Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Wall Street Zen lowered Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Morgan Stanley increased their price target on shares of Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. 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 research note on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.67.

Insider Activity at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction that occurred 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 approximately $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company's stock.

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.