Sivia Capital Partners LLC Takes $453,000 Position in Textron Inc. $TXT

Key Points

• Sivia Capital Partners LLC has acquired a new position in Textron Inc., purchasing 5,642 shares valued at approximately $453,000 during the second quarter.
• Textron reported a better-than-expected EPS of $1.55 for the last quarter, exceeding the consensus estimate by $0.10, alongside a revenue increase of 5.4% year-over-year.
• The company will pay a quarterly dividend of $0.02 per share on October 1st, representing an annualized dividend yield of 0.1%.

Sivia Capital Partners LLC purchased a new position in Textron Inc. (NYSE:TXT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,642 shares of the aerospace company's stock, valued at approximately $453,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its position in Textron by 31.0% in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Textron by 16.1% in 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 during the last quarter. LPL Financial LLC raised its stake in Textron by 4.9% during the 1st quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company's stock valued at $6,483,000 after purchasing an additional 4,204 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Textron during the 1st quarter valued at $545,000. Finally, TD Asset Management Inc raised its stake in Textron by 2.2% during the 1st quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company's stock valued at $69,776,000 after purchasing an additional 20,733 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TXT. Jefferies Financial Group reissued a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Barclays boosted 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. Morgan Stanley boosted their target price 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. Susquehanna boosted their target price on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of Textron from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 6th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Textron presently has an average rating of "Moderate Buy" and a consensus target price of $92.67.

Textron Stock Performance

Textron stock traded up $1.23 on Thursday, reaching $83.94. 1,061,934 shares of the stock were exchanged, compared to its average volume of 1,212,027. The stock has a market cap of $14.96 billion, a PE ratio of 18.99, a PEG ratio of 1.35 and a beta of 1.14. 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 $91.30. The firm has a fifty day moving average price of $80.96 and a two-hundred day moving average price of $75.93.

Textron (NYSE:TXT - Get Free Report) last released its 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 firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business's revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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

Insiders Place Their Bets

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 shares were 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Textron 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.