Sumitomo Mitsui DS Asset Management Company Ltd Purchases 5,888 Shares of Textron Inc. $TXT

Key Points

• Sumitomo Mitsui DS Asset Management increased its shares in Textron Inc. by 30.9% during Q2, acquiring an additional 5,888 shares for a total of 24,945 shares valued at approximately $2 million.
• Several institutional investors are actively adjusting their positions in Textron, with a cumulative ownership of 86.03% of the company's stock, indicating strong institutional interest.
• Textron reported a Q2 EPS of $1.55, surpassing analysts’ expectations, and has set an FY 2025 EPS guidance between 6.000-6.200, reflecting positive growth outlook.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 30.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,945 shares of the aerospace company's stock after buying an additional 5,888 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Textron were worth $2,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in shares of Textron during the 1st quarter worth $25,000. Harvest Fund Management Co. Ltd grew its position in shares of Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock worth $39,000 after buying an additional 262 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Textron during the 1st quarter worth $41,000. Federated Hermes Inc. boosted its position in Textron by 48.8% during the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock valued at $58,000 after purchasing an additional 263 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Textron by 123.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock valued at $61,000 after purchasing an additional 465 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

Insider Activity

In other news, EVP Julie G. Duffy sold 28,543 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TXT shares. UBS Group raised Textron from a "sell" rating to a "neutral" rating and raised their price objective for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Jefferies Financial Group reaffirmed a "buy" rating and set a $95.00 price objective (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Morgan Stanley raised their price objective on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Wall Street Zen downgraded Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Susquehanna raised their price objective on Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Textron currently has an average rating of "Moderate Buy" and an average price target of $92.67.

Textron Trading Down 0.3%

Textron stock opened at $83.70 on Monday. The stock has a 50-day moving average of $80.93 and a two-hundred day moving average of $76.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. Textron Inc. has a one year low of $57.70 and a one year high of $91.30. The stock has a market cap of $14.92 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 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 company had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same period last year, the business posted $1.54 earnings per share. The firm's 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. On average, research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed 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. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's dividend payout ratio (DPR) 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.

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