Textron Inc. $TXT Shares Acquired by Goldman Sachs Group Inc.

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. lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 10.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,243,429 shares of the aerospace company's stock after purchasing an additional 120,577 shares during the quarter. Goldman Sachs Group Inc. owned about 0.69% of Textron worth $89,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in shares of Textron during the 1st quarter worth $25,000. Harvest Fund Management Co. Ltd grew 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 during the period. Zions Bancorporation National Association UT acquired a new stake in Textron in the 1st quarter valued at about $41,000. Federated Hermes Inc. grew 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 acquiring an additional 263 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock valued at $61,000 after acquiring an additional 465 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TXT shares. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and increased their price objective for the company from $73.00 to $88.00 in a research note on Monday, July 28th. The Goldman Sachs Group reissued a "neutral" rating and issued a $85.00 price objective (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Barclays increased their price objective on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Wall Street Zen raised shares of Textron from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 6th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $95.00 price objective (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Textron currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.67.

Insider Buying and Selling

In related news, EVP Julie G. Duffy sold 28,543 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the transaction, the executive vice president owned 37,624 shares in the company, valued at approximately $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The transaction 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 Price Performance

Textron stock opened at $81.29 on Friday. The stock has a market capitalization of $14.49 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.34 and a beta of 1.14. 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 firm's 50-day moving average is $80.93 and its two-hundred day moving average is $75.67.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share 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 analyst estimates of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The company's revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

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

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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