Northern Trust Corp Has $125.73 Million Stock Holdings in Textron Inc. $TXT

Key Points

• Northern Trust Corp has reduced its stake in Textron Inc. by 3.5%, now holding approximately 1.74 million shares valued at $125.73 million.
• Several hedge funds have increased their investments in Textron, with Cambridge Investment Research Advisors raising its stake by 31% and Graham Capital Management increasing its position by 166.8% in recent quarters.
• Textron reported better-than-expected earnings, with an EPS of $1.55, exceeding the analyst estimate of $1.45, and set its FY 2025 guidance between $6.00 and $6.20 EPS.

Northern Trust Corp lessened its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,740,251 shares of the aerospace company's stock after selling 63,527 shares during the quarter. Northern Trust Corp owned about 0.96% of Textron worth $125,733,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Textron by 31.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company's stock worth $2,776,000 after buying an additional 9,082 shares during the last quarter. Graham Capital Management L.P. lifted its stake in shares of Textron by 166.8% during the 4th quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company's stock worth $5,125,000 after buying an additional 41,888 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Textron by 16.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company's stock worth $1,474,000 after purchasing an additional 2,803 shares in the last quarter. LPL Financial LLC raised its stake in Textron by 4.9% in the 1st quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company's stock worth $6,483,000 after purchasing an additional 4,204 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in Textron in the 1st quarter worth about $545,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the business's 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 sale, the executive vice president directly owned 37,624 shares of the company's stock, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by insiders.

Textron Price Performance

Shares of NYSE:TXT opened at $81.4280 on Friday. The firm has a 50 day moving average of $80.43 and a 200-day moving average of $74.87. The stock has a market capitalization of $14.51 billion, a PE ratio of 18.42, a PEG ratio of 1.30 and a beta of 1.16. 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 12 month low of $57.70 and a 12 month high of $91.48.

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 the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities research analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron's payout ratio is presently 1.81%.

Wall Street Analyst Weigh In

Several analysts have weighed in on TXT shares. Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Susquehanna lifted their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Barclays lifted their price objective on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $85.00 price objective (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 given 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 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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