NorthRock Partners LLC Invests $298,000 in Textron Inc. $TXT

Key Points

• NorthRock Partners LLC invested approximately $298,000 in Textron Inc. during the 2nd quarter, acquiring 3,705 shares of the aerospace company.
• The company reported $1.55 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.45, and showed a revenue increase of 5.4% compared to the same quarter last year.
• Textron has declared a quarterly dividend of $0.02 per share, resulting in an annualized yield of 0.1%, with a low dividend payout ratio of 1.81%.

NorthRock Partners LLC bought a new position in shares of Textron Inc. (NYSE:TXT - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,705 shares of the aerospace company's stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its holdings in Textron by 17.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 58,567 shares of the aerospace company's stock worth $4,702,000 after acquiring an additional 8,625 shares in the last quarter. MGO One Seven LLC bought a new position in Textron during the 2nd quarter worth about $215,000. CWM LLC grew its holdings in Textron by 205.4% during the 2nd quarter. CWM LLC now owns 37,171 shares of the aerospace company's stock worth $2,984,000 after acquiring an additional 25,001 shares in the last quarter. Sippican Capital Advisors bought a new position in Textron during the 2nd quarter worth about $201,000. Finally, Board of the Pension Protection Fund bought a new position in Textron during the 2nd quarter worth about $538,000. 86.03% of the stock is currently owned by institutional investors.

Insider Transactions at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the firm'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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

Textron Stock Performance

Shares of Textron stock opened at $81.66 on Friday. The firm has a market capitalization of $14.55 billion, a P/E ratio of 18.48, a PEG ratio of 1.34 and a beta of 1.13. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $82.00 and a 200 day moving average price of $77.36. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $91.30.

Textron (NYSE:TXT - Get Free Report) last posted 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 company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the firm posted $1.54 EPS. Textron's revenue for the quarter 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 expect 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. Shareholders of record on Friday, September 12th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron's dividend payout ratio (DPR) is currently 1.81%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Textron in a report on Wednesday, October 8th. Susquehanna increased their price target on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Morgan Stanley increased their price target on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group reissued a "neutral" rating and set a $85.00 price target (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Finally, Wall Street Zen raised shares of Textron from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Textron has a consensus rating of "Hold" and an average target price of $92.45.

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.

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