Vident Advisory LLC Has $22.04 Million Position in Textron Inc. $TXT

Key Points

• Vident Advisory LLC has increased its stake in Textron Inc. by 150.8%, owning approximately 0.17% of the company valued at $22 million after purchasing an additional 183,471 shares.
• Textron reported earnings per share of $1.55 for the last quarter, exceeding expectations, with a revenue of $3.72 billion, marking a 5.4% year-over-year increase.
• The company has declared a quarterly dividend of $0.02 per share, which reflects an annualized yield of 0.1%.

Vident Advisory LLC boosted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 150.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,112 shares of the aerospace company's stock after acquiring an additional 183,471 shares during the quarter. Vident Advisory LLC owned 0.17% of Textron worth $22,044,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Landscape Capital Management L.L.C. acquired a new stake in shares of Textron in the first quarter valued at $1,252,000. OMERS ADMINISTRATION Corp increased its stake in shares of Textron by 30.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 28,128 shares of the aerospace company's stock valued at $2,032,000 after buying an additional 6,499 shares in the last quarter. Eisler Capital Management Ltd. acquired a new stake in shares of Textron in the first quarter valued at $3,689,000. Gabelli Funds LLC increased its stake in shares of Textron by 0.8% in the first quarter. Gabelli Funds LLC now owns 973,952 shares of the aerospace company's stock valued at $70,368,000 after buying an additional 7,500 shares in the last quarter. Finally, Harvest Portfolios Group Inc. increased its stake in shares of Textron by 12.5% in the first quarter. Harvest Portfolios Group Inc. now owns 23,577 shares of the aerospace company's stock valued at $1,703,000 after buying an additional 2,618 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TXT has been the subject of a number of research reports. Wall Street Zen lowered Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Barclays lifted their price objective on Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price objective (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Susquehanna lifted their price objective on Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $85.00 price objective (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Textron currently has an average rating of "Moderate Buy" and an average target price of $92.67.

Textron Stock Down 0.8%

Shares of NYSE:TXT traded down $0.63 during trading on Tuesday, hitting $79.54. 1,906,555 shares of the company's stock traded hands, compared to its average volume of 1,511,590. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $91.30. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. The company has a 50-day moving average price of $80.88 and a 200-day moving average price of $75.18.

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

Textron Dividend Announcement

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

Insider Buying and Selling at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the business'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 completion of the sale, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.70% of the company's stock.

Textron Company 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.