T. Rowe Price Investment Management Inc. Has $824.41 Million Holdings in Textron Inc. $TXT

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Textron Inc. by 0.7% in Q1, now owning approximately 6.32% of the company worth $824.4 million.
• Textron reported earnings per share of $1.55 for the last quarter, exceeding analysts' expectations of $1.45, with revenues of $3.72 billion.
• The company has announced a quarterly dividend of $0.02 per share, set to be paid on October 1, reflecting a low annualized dividend yield of 0.1%.

T. Rowe Price Investment Management Inc. lifted its holdings in Textron Inc. (NYSE:TXT - Free Report) by 0.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,410,481 shares of the aerospace company's stock after buying an additional 76,972 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 6.32% of Textron worth $824,408,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in shares of Textron in the first quarter valued at about $25,000. Harvest Fund Management Co. Ltd raised its holdings in 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 purchasing an additional 262 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Textron in the 1st quarter valued at about $41,000. Optiver Holding B.V. bought a new stake in shares of Textron in the 4th quarter valued at about $56,000. Finally, Federated Hermes Inc. increased its stake 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 last quarter. 86.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen cut Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group upgraded Textron from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $73.00 to $88.00 in a research report on Monday, July 28th. 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. Barclays boosted their price objective on Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Susquehanna boosted 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 research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Textron Stock Up 2.5%

NYSE:TXT traded up $1.9480 during trading hours on Friday, reaching $81.4280. 876,749 shares of the stock were exchanged, compared to its average volume of 1,654,121. 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 current ratio of 1.84 and a quick ratio of 0.84. The firm has a 50 day moving average of $80.43 and a 200 day moving average of $74.87. The stock has a market cap of $14.51 billion, a PE ratio of 18.42, a PEG ratio of 1.30 and a beta of 1.16.

Textron (NYSE:TXT - Get Free Report) last released 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. Textron had a return on equity of 14.26% and a net margin of 5.80%.The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. The business's revenue was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

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

Insider Activity 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 value of $2,265,457.91. Following the completion of the sale, the executive vice president owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company's stock.

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.