Goldman Sachs Group Inc. Acquires 120,577 Shares of Textron Inc. $TXT

Key Points

• Goldman Sachs Group Inc. increased its stake in Textron Inc. by 10.7% during Q1, owning approximately 0.69% of the company, valued at $89.8 million.
• Equities research analysts have shown mixed sentiments, with Barclays raising its price target for Textron from $95 to $105 while Goldman Sachs reduced its target to $85.
• Textron recently declared a quarterly dividend of $0.02, with the ex-dividend date set for September 12.

Goldman Sachs Group Inc. raised its holdings in Textron Inc. (NYSE:TXT - Free Report) by 10.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,243,429 shares of the aerospace company's stock after buying an additional 120,577 shares during the period. Goldman Sachs Group Inc. owned 0.69% of Textron worth $89,838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its stake in Textron by 31.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company's stock valued at $2,776,000 after buying an additional 9,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Textron by 16.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company's stock valued at $1,474,000 after buying an additional 2,803 shares during the last quarter. LPL Financial LLC increased its stake in Textron by 4.9% in the 1st quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company's stock valued at $6,483,000 after buying an additional 4,204 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Textron in the 1st quarter valued at $545,000. Finally, TD Asset Management Inc increased its stake in Textron by 2.2% in the 1st quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company's stock valued at $69,776,000 after buying an additional 20,733 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Performance

Shares of TXT stock traded up $1.23 during midday trading on Thursday, hitting $83.94. 1,061,934 shares of the company were exchanged, compared to its average volume of 1,212,027. The firm has a market capitalization of $14.96 billion, a P/E ratio of 18.99, a PEG ratio of 1.35 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The firm's 50 day moving average price is $80.96 and its two-hundred day moving average price is $75.93. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $91.30.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. The business had revenue of $3.72 billion during 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%. Textron's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on TXT. Morgan Stanley lifted their price objective on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Susquehanna lifted their price objective on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Friday, July 25th. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Jefferies Financial Group reissued a "buy" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Finally, Barclays lifted their price objective on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $92.67.

Insider Activity at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of Textron 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible 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.