Dimensional Fund Advisors LP Trims Stock Position in Textron Inc. $TXT

Key Points

• Dimensional Fund Advisors LP decreased its holdings in Textron Inc. by 17.8%, selling 496,619 shares and owning 2,299,529 shares valued at approximately $166 million at the end of the quarter.
• Several large investors shifted their positions in Textron, with Invesco Ltd. increasing its holdings by 5.6% and Balyasny Asset Management raising its holdings by an astounding 6,785.9%.
• Textron's stock has received mixed ratings from analysts, with an average price target of $92.67 and a recent upgrade by UBS Group raising its target from $73.00 to $88.00.

Dimensional Fund Advisors LP lowered its stake in Textron Inc. (NYSE:TXT - Free Report) by 17.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,299,529 shares of the aerospace company's stock after selling 496,619 shares during the quarter. Dimensional Fund Advisors LP owned about 1.27% of Textron worth $166,152,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Syon Capital LLC lifted its stake in Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after purchasing an additional 153 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Textron by 7.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after purchasing an additional 197 shares in the last quarter. Transce3nd LLC lifted its stake in Textron by 14.0% in the 1st quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock worth $116,000 after purchasing an additional 199 shares in the last quarter. Parallel Advisors LLC lifted its stake in Textron by 22.9% in the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after purchasing an additional 208 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Textron by 6.4% in the 1st quarter. Apollon Wealth Management LLC now owns 3,599 shares of the aerospace company's stock worth $260,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Wall Street Analyst Weigh In

TXT has been the topic of several research analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Jefferies Financial Group restated a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Susquehanna upped their target price 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. Morgan Stanley upped their target price 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. Finally, Barclays upped their target price 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 equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Insider Transactions at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the firm's stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Textron Trading Up 2.5%

NYSE TXT traded up $1.9480 during trading on Friday, hitting $81.4280. The stock had a trading volume of 876,749 shares, compared to its average volume of 1,654,121. 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 stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.30 and a beta of 1.16. Textron Inc. has a one year low of $57.70 and a one year high of $91.48. The stock has a 50 day simple moving average of $80.43 and a 200 day simple moving average of $74.87.

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 (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%. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $0.02 dividend. The ex-dividend date of this dividend 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.