Textron Inc. $TXT Stock Position Decreased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Textron Inc. by 6.2%, owning 508,256 shares worth approximately $36.72 million after selling 33,659 shares in the first quarter.
• Textron's stock recently rose by 2.5%, and the company's quarterly earnings surpassed analysts' expectations, with reported earnings per share of $1.55 compared to a consensus estimate of $1.45.
• The company has announced a quarterly dividend of $0.02 per share, which will be paid on October 1st, reflecting an annualized yield of 0.1% and a dividend payout ratio of 1.81%.

Raymond James Financial Inc. decreased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 508,256 shares of the aerospace company's stock after selling 33,659 shares during the period. Raymond James Financial Inc. owned approximately 0.28% of Textron worth $36,722,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Invesco Ltd. raised its stake in shares of Textron by 5.6% during the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company's stock valued at $590,059,000 after acquiring an additional 433,567 shares in the last quarter. Northern Trust Corp increased its position in shares of Textron by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock worth $137,971,000 after purchasing an additional 155,384 shares in the last quarter. Nuveen LLC acquired a new position in shares of Textron in the 1st quarter valued at $89,403,000. Balyasny Asset Management L.P. increased its position in shares of Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock valued at $94,575,000 after acquiring an additional 1,218,485 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Textron by 97.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock valued at $78,872,000 after acquiring an additional 510,085 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company's stock.

Textron Stock Down 2.1%

Shares of TXT stock traded down $1.71 during trading hours on Thursday, reaching $80.19. The company had a trading volume of 404,598 shares, compared to its average volume of 1,507,162. The company has a market capitalization of $14.29 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.48. 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 stock's fifty day simple moving average is $80.69 and its 200 day simple moving average is $75.01.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping 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 company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the business posted $1.54 EPS. Textron'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. As a group, sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analyst Weigh In

TXT has been the topic of a number of research reports. Morgan Stanley raised their price target on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group restated a "neutral" rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Susquehanna raised their price target on Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 target price (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Barclays lifted their price target on Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.