Perbak Capital Partners LLP Takes Position in Textron Inc. $TXT

Key Points

• Perbak Capital Partners LLP established a new position in Textron Inc., purchasing 4,269 shares valued at approximately $308,000 during the first quarter.
• Textron reported strong quarterly earnings with an EPS of $1.55, exceeding estimates, and raised its FY 2025 guidance to between 6.000 and 6.200 EPS.
• The company declared a quarterly dividend of $0.02, with an annualized yield of 0.1%, to be paid on October 1st, 2023.

Perbak Capital Partners LLP bought a new stake in Textron Inc. (NYSE:TXT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,269 shares of the aerospace company's stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its position in Textron by 31.0% during the first 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 in the last quarter. Graham Capital Management L.P. lifted its position in Textron by 166.8% during the fourth 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Textron by 16.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company's stock worth $1,474,000 after buying an additional 2,803 shares in the last quarter. LPL Financial LLC lifted its position in Textron by 4.9% during the first quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company's stock worth $6,483,000 after buying an additional 4,204 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Textron during the first quarter worth approximately $545,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays lifted their price objective on Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Morgan Stanley lifted their price objective on Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group restated a "neutral" rating and issued a $85.00 target price (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. UBS Group upgraded Textron from a "sell" rating to a "neutral" rating and lifted their target price for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Finally, Wall Street Zen upgraded Textron from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Textron has an average rating of "Moderate Buy" and a consensus target price of $92.67.

Insider Buying and Selling

In related 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 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 $2,986,216.88. The trade was a 43.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Textron Trading Down 0.0%

Shares of NYSE TXT traded down $0.02 during trading on Friday, reaching $81.31. The stock had a trading volume of 1,646,814 shares, compared to its average volume of 1,144,604. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The business's 50-day moving average price is $80.94 and its 200-day moving average price is $75.36. The company has a market cap of $14.49 billion, a P/E ratio of 18.40, a PEG ratio of 1.33 and a beta of 1.14.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $3.64 billion. During the same period in the previous year, the firm posted $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. On average, equities research analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend 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%.

Textron Company 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.