Textron Inc. $TXT Position Reduced by Baxter Bros Inc.

Key Points

• Baxter Bros Inc. reduced its holdings in Textron Inc. by 12.9% during the second quarter, now owning 27,335 shares valued at approximately $2.2 million.
• Textron reported a better-than-expected earnings per share of $1.55 for Q2, surpassing consensus estimates by $0.10, with revenue reaching $3.72 billion.
• The company announced a quarterly dividend of $0.02 per share, representing a 0.1% yield and a payout ratio of 1.81%.

Baxter Bros Inc. cut its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 12.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,335 shares of the aerospace company's stock after selling 4,055 shares during the quarter. Baxter Bros Inc.'s holdings in Textron were worth $2,195,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Moody National Bank Trust Division grew its holdings in Textron by 1.2% during the second quarter. Moody National Bank Trust Division now owns 12,139 shares of the aerospace company's stock valued at $975,000 after purchasing an additional 141 shares during the last quarter. Brooklyn Investment Group grew its holdings in Textron by 10.3% during the first quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company's stock valued at $120,000 after purchasing an additional 156 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Textron by 2.3% in the second quarter. Fifth Third Bancorp now owns 7,063 shares of the aerospace company's stock worth $567,000 after acquiring an additional 159 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Textron by 7.4% in the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after acquiring an additional 197 shares during the last quarter. Finally, Transce3nd LLC grew its stake in shares of Textron by 14.0% in the first quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock worth $116,000 after acquiring an additional 199 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Up 1.4%

Shares of NYSE TXT opened at $86.23 on Thursday. The firm's 50-day simple moving average is $81.40 and its 200 day simple moving average is $77.00. The company has a market cap of $15.37 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.39 and a beta of 1.13. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.30.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, research 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 was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a dividend of $0.02 per share. The ex-dividend date was Friday, September 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron's dividend payout ratio is 1.81%.

Insider Transactions at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 37,624 shares in the company, valued at $2,986,216.88. This represents a 43.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $95.00 price target (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. The Goldman Sachs Group reiterated a "neutral" rating and set a $85.00 price target (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Weiss Ratings reiterated a "hold (c+)" rating on shares of Textron in a research note on Wednesday. Susquehanna lifted their price target on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $73.00 to $88.00 in a research note on Monday, July 28th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of "Hold" and a consensus price target of $92.45.

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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