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 raised its holdings in Textron Inc. (NYSE:TXT - Free Report) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 864,606 shares of the aerospace company's stock after acquiring an additional 23,677 shares during the period. Great Lakes Advisors LLC owned approximately 0.48% of Textron worth $62,372,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its holdings in Textron by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company's stock valued at $824,408,000 after acquiring an additional 76,972 shares during the last quarter. Invesco Ltd. raised its holdings in Textron by 5.6% in the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company's stock valued at $590,059,000 after acquiring an additional 433,567 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Textron by 10.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company's stock worth $89,838,000 after buying an additional 120,577 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Textron during the 1st quarter worth approximately $89,403,000. Finally, Millennium Management LLC increased its holdings in shares of Textron by 128.7% during the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company's stock worth $80,416,000 after buying an additional 626,346 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Down 0.0%

Textron stock opened at $81.31 on Monday. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.30. 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 has a 50 day moving average price of $80.94 and a 200 day moving average price of $75.40. The company has a market capitalization of $14.49 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the firm earned $1.54 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

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

Insider Buying and Selling

In other Textron 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 completion of the transaction, the executive vice president owned 37,624 shares of the company's stock, valued at $2,986,216.88. This trade represents a 43.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TXT shares. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 price target (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Barclays raised their price target on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Susquehanna raised their price target on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Textron from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Morgan Stanley raised their price target on shares of Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.67.

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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