OMERS ADMINISTRATION Corp Buys 6,499 Shares of Textron Inc. $TXT

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Textron Inc. by 30% during the first quarter, owning 28,128 shares valued at approximately $2,032,000.
• Textron's recent quarterly earnings report showed an EPS of $1.55, exceeding analysts' estimates of $1.45, with total revenue of $3.72 billion.
• The company's stock is currently trading near 52-week highs, with an average target price of $92.67 and a mixed rating from analysts, ranging from "buy" to "hold."

OMERS ADMINISTRATION Corp lifted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 30.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,128 shares of the aerospace company's stock after purchasing an additional 6,499 shares during the period. OMERS ADMINISTRATION Corp's holdings in Textron were worth $2,032,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Textron during the first quarter worth about $25,000. Harvest Fund Management Co. Ltd lifted its holdings in Textron by 100.0% in 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 period. Zions Bancorporation National Association UT purchased a new stake in Textron in the first quarter worth about $41,000. Federated Hermes Inc. lifted its holdings in Textron by 48.8% in 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 period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Textron by 123.3% in 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 period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Down 0.8%

TXT traded down $0.63 during trading on Tuesday, hitting $79.54. 1,906,555 shares of the company's stock traded hands, compared to its average volume of 1,104,879. The company's 50 day simple moving average is $80.90 and its two-hundred day simple moving average is $75.21. 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 $91.30. The stock has a market capitalization of $14.17 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.31 and a beta of 1.14.

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 for the quarter, topping the consensus estimate of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. The company's revenue was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TXT has been the subject of several research analyst reports. Morgan Stanley raised their price objective 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. Susquehanna raised their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Barclays raised their target price on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $95.00 target price (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Textron currently has an average rating of "Moderate Buy" and an average target price of $92.67.

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.