Price T Rowe Associates Inc. MD Sells 51,470 Shares of Textron Inc. $TXT

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Textron Inc. by 2.0%, owning approximately 1.43% of the company's shares, which amounts to about $186.3 million after selling 51,470 shares in the first quarter.
• Textron Inc. reported quarterly earnings of $1.55 per share, surpassing analyst estimates, with revenue of $3.72 billion, up 5.4% year-over-year.
• The company declared a quarterly dividend of $0.02 per share, with the payment date set for October 1st, reflecting a dividend yield of 0.1%.

Price T Rowe Associates Inc. MD decreased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,578,510 shares of the aerospace company's stock after selling 51,470 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.43% of Textron worth $186,298,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in shares of Textron in the first quarter worth about $25,000. Harvest Fund Management Co. Ltd grew its position in Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock valued at $39,000 after purchasing an additional 262 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Textron during the first quarter worth about $41,000. Optiver Holding B.V. acquired a new stake in shares of Textron in the 4th quarter valued at approximately $56,000. Finally, Federated Hermes Inc. grew its position in shares of Textron by 48.8% in the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock valued at $58,000 after acquiring an additional 263 shares during the period. Institutional investors own 86.03% of the company's stock.

Insider Activity at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the company'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 sale, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. This represents a 43.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company's stock.

Textron Price Performance

Textron stock traded down $0.35 during trading hours on Friday, reaching $80.11. 381,954 shares of the stock were exchanged, compared to its average volume of 1,503,201. 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 twelve month low of $57.70 and a twelve month high of $91.48. The company has a market cap of $14.28 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. The stock has a 50 day moving average of $80.77 and a two-hundred day moving average of $75.05.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.10. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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 dividend payout ratio (DPR) is presently 1.81%.

Analyst Ratings Changes

TXT has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Susquehanna lifted their target price on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Barclays raised their price objective on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group reiterated 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. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Textron currently has an average rating of "Moderate Buy" and a consensus 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.