TD Asset Management Inc Reduces Stock Holdings in Textron Inc. $TXT

Key Points

• TD Asset Management Inc reduced its holdings in Textron Inc. by 6.3%, now owning approximately 904,523 shares valued at $72.6 million.
• Textron reported earnings of $1.55 EPS for the last quarter, surpassing analyst estimates, with a net revenue increase of 5.4% year-over-year.
• The company announced a quarterly dividend of $0.02, which represents an annualized yield of 0.1% and a payout ratio of 1.81%.

TD Asset Management Inc cut its holdings in Textron Inc. (NYSE:TXT - Free Report) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 904,523 shares of the aerospace company's stock after selling 61,232 shares during the period. TD Asset Management Inc owned about 0.50% of Textron worth $72,624,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TXT. Banque Cantonale Vaudoise acquired a new position in Textron during the first quarter worth about $25,000. Harvest Fund Management Co. Ltd increased its stake 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 purchasing an additional 262 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Textron during the 1st quarter worth approximately $41,000. Federated Hermes Inc. lifted its stake in 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 buying an additional 263 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its stake in Textron by 54.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 850 shares of the aerospace company's stock valued at $68,000 after buying an additional 300 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Down 1.3%

NYSE TXT opened at $82.65 on Thursday. The company has a market cap of $14.73 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.36 and a beta of 1.13. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.30. 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 company has a 50-day moving average of $81.92 and a 200-day moving average of $77.30.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the firm earned $1.54 earnings per share. Textron'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. As a group, equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given 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 was Friday, September 12th. Textron's dividend payout ratio (DPR) is 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 dated 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 owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

TXT has been the subject of a number of analyst reports. Barclays boosted their price target on Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and boosted their target price for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Morgan Stanley upped their target price on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Susquehanna lifted their price target on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $85.00 price objective (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $92.45.

About Textron

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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