Textron Inc. $TXT Shares Bought by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC increased its holdings in Textron Inc. by 2.8%, owning approximately 0.48% of the company, valued at $62.37 million.
• Textron reported a net income of $1.55 earnings per share, surpassing estimates and marking a 5.4% year-over-year revenue increase to $3.72 billion.
• The company declared a quarterly dividend of $0.02 per share, to be paid on October 1st, representing an annualized yield of 0.1%.

Great Lakes Advisors LLC increased its position in Textron Inc. (NYSE:TXT - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 864,606 shares of the aerospace company's stock after purchasing an additional 23,677 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.48% of Textron worth $62,372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in Textron in the first quarter worth approximately $25,000. Harvest Fund Management Co. Ltd lifted its holdings in Textron by 100.0% during the first 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 during the period. Zions Bancorporation National Association UT purchased a new stake in Textron during the first quarter worth $41,000. Federated Hermes Inc. lifted its holdings in Textron by 48.8% during the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock worth $58,000 after buying an additional 263 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Textron by 123.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after buying an additional 465 shares during the period. Institutional investors own 86.03% of the company's stock.

Textron Stock Down 1.2%

Shares of TXT stock traded down $0.96 during trading hours on Friday, reaching $81.29. 984,901 shares of the company's stock were exchanged, compared to its average volume of 1,149,266. The stock's 50 day moving average is $80.93 and its 200-day moving average is $75.67. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.34 and a beta of 1.14. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week 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 analysts' consensus estimates of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The business's quarterly revenue was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be 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 is Friday, September 12th. Textron's dividend payout ratio is presently 1.81%.

Insider Activity

In related news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the transaction, the executive vice president directly owned 37,624 shares of the company's stock, valued at $2,986,216.88. This represents a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Jefferies Financial Group restated a "buy" rating and set a $95.00 target price (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. UBS Group upgraded Textron from a "sell" rating to a "neutral" rating and upped their target price for the stock from $73.00 to $88.00 in a report on Monday, July 28th. Wall Street Zen upgraded Textron from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 6th. Finally, Susquehanna upped their target price on Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $92.67.

Textron 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.