Textron Inc. $TXT Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its holdings in Textron Inc. by 43.8%, owning 11,958 shares valued at approximately $960,000 as of the most recent SEC filing.
• Textron's latest earnings report showed an EPS of $1.55, exceeding analysts' expectations, although revenue of $3.60 billion fell short of projections.
• The company declared a $0.02 quarterly dividend to be paid on January 1st, representing a 0.1% yield and reflecting a payout ratio of 1.81%.

AlphaQuest LLC boosted its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 43.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,958 shares of the aerospace company's stock after buying an additional 3,645 shares during the quarter. AlphaQuest LLC's holdings in Textron were worth $960,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in Textron during the 1st quarter worth approximately $25,000. Harvest Fund Management Co. Ltd lifted 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 buying an additional 262 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Textron in the 1st quarter valued at $41,000. Federated Hermes Inc. raised its holdings 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 purchasing an additional 263 shares in the last quarter. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of Textron in the 2nd quarter valued at $60,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Up 2.1%

Shares of NYSE:TXT opened at $81.13 on Friday. The company has a market cap of $14.46 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.32 and a beta of 1.13. The firm's 50-day simple moving average is $82.32 and its 200-day simple moving average is $78.14. The company has a quick ratio of 0.84, a current ratio of 1.69 and a debt-to-equity ratio of 0.41. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $89.28.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.08. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. Textron had a net margin of 5.81% and a return on equity of 14.16%. The firm's revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research 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 Thursday, January 1st. Shareholders of record on Friday, December 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, December 12th. Textron's dividend payout ratio is 1.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TXT. Morgan Stanley raised their price objective 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. Barclays raised their price objective on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. UBS Group reduced their price objective on shares of Textron from $92.00 to $89.00 and set a "neutral" rating on the stock in a report on Friday. The Goldman Sachs Group reiterated a "neutral" rating and set a $85.00 price target (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Finally, Wall Street Zen lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Sunday, October 19th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $92.33.

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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