Petrus Trust Company LTA Decreases Stake in Textron Inc. $TXT

Key Points

• Petrus Trust Company LTA significantly reduced its holdings in Textron Inc. by 70.5%, selling 6,730 shares and now owning 2,813 shares valued at $203,000.
• Textron recently announced a quarterly dividend of $0.02 per share, with an annualized yield of 0.1%, set to be paid on October 1st to investors of record.
• Analysts have provided a consensus price target of $92.67 for Textron, with ratings ranging from "Moderate Buy" to "Strong Buy" from various research firms.

Petrus Trust Company LTA trimmed its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 70.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,813 shares of the aerospace company's stock after selling 6,730 shares during the period. Petrus Trust Company LTA's holdings in Textron were worth $203,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Textron during the 1st quarter worth approximately $89,403,000. Millennium Management LLC grew its position in Textron by 128.7% during the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company's stock worth $80,416,000 after acquiring an additional 626,346 shares during the last quarter. Invesco Ltd. grew its position in Textron by 5.6% during the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company's stock worth $590,059,000 after acquiring an additional 433,567 shares during the last quarter. Voloridge Investment Management LLC grew its position in Textron by 35.0% during the 4th quarter. Voloridge Investment Management LLC now owns 980,374 shares of the aerospace company's stock worth $74,989,000 after acquiring an additional 254,379 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Textron by 110.6% during the 1st quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company's stock worth $31,960,000 after acquiring an additional 232,277 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Textron 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 sale, the executive vice president directly owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. The trade was 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 link. Company insiders own 1.70% of the company's stock.

Textron Stock Up 1.5%

Shares of TXT traded up $1.23 on Monday, reaching $82.46. The stock had a trading volume of 259,685 shares, compared to its average volume of 1,491,731. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14. 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 company has a 50-day simple moving average of $80.93 and a 200-day simple moving average of $75.71. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.30.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) 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 quarter in the previous year, the business earned $1.54 earnings per share. The firm's quarterly revenue 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 predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business 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 $0.02 dividend. 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 1.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TXT shares. Jefferies Financial Group restated a "buy" rating and set a $95.00 price target (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. 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 reiterated a "neutral" rating and issued a $85.00 price objective (down 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 price objective for the stock 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, September 6th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $92.67.

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.