Wealth Enhancement Advisory Services LLC Has $3.59 Million Stock Position in Textron Inc. $TXT

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Textron Inc. by 83.4%, owning 43,651 shares valued at approximately $3.59 million following additional purchases in the second quarter.
• Analysts have positively revised their target prices for Textron, with Barclays setting a new target of $105 and UBS raising it to $88, leading to a general average target price of $92.45.
• Textron reported earnings of $1.55 per share for the last quarter, exceeding expectations, with revenue of $3.72 billion, marking a 5.4% increase compared to the previous year.

Wealth Enhancement Advisory Services LLC lifted its position in Textron Inc. (NYSE:TXT - Free Report) by 83.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,651 shares of the aerospace company's stock after buying an additional 19,855 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Textron were worth $3,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TXT. Banque Cantonale Vaudoise acquired a new position in Textron during the 1st quarter valued at $25,000. Harvest Fund Management Co. Ltd raised its stake in Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock valued at $39,000 after purchasing an additional 262 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Textron during the 1st quarter valued at $41,000. Federated Hermes Inc. raised its stake in Textron by 48.8% during 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 during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Textron by 123.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock valued at $61,000 after purchasing an additional 465 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TXT shares. 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 note on Tuesday, July 29th. Morgan Stanley boosted their price target 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. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and boosted their price target for the company from $73.00 to $88.00 in a report on Monday, July 28th. Jefferies Financial Group reissued a "buy" rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $92.45.

Textron Stock Up 1.5%

TXT opened at $83.57 on Friday. The firm's 50-day simple moving average is $80.75 and its 200-day simple moving average is $76.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. The firm has a market cap of $14.89 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.34 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, topping 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 business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts anticipate 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. Shareholders of record on Friday, September 12th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, September 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron's dividend payout ratio is presently 1.81%.

Insider Transactions at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the transaction, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

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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