XTX Topco Ltd Invests $1.69 Million in Textron Inc. (NYSE:TXT)

Key Points

• XTX Topco Ltd has invested $1.69 million in Textron Inc., acquiring 23,392 shares in the 1st quarter.
• Textron reported quarterly earnings of $1.55 EPS, surpassing the consensus estimate of $1.45, with revenue increase of 5.4% year-over-year.
• The company declared a quarterly dividend of $0.02 per share, representing an annualized yield of 0.1%, to be paid out on October 1st.

XTX Topco Ltd purchased a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,392 shares of the aerospace company's stock, valued at approximately $1,690,000.

Other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in Textron in the first quarter valued at $25,000. Harvest Fund Management Co. Ltd increased its holdings in Textron by 100.0% in the first 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 period. Optiver Holding B.V. acquired a new stake in Textron in the fourth quarter valued at $56,000. Federated Hermes Inc. increased its holdings in Textron by 48.8% in the first 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 period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Textron by 123.3% in the first 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 period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Down 0.4%

TXT opened at $77.78 on Friday. The company has a 50 day moving average of $79.25 and a 200 day moving average of $74.76. The company has a market cap of $13.86 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $93.98. 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 (NYSE:TXT - Get Free Report) last announced its quarterly 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. 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 period last year, the firm earned $1.54 EPS. The business's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued 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 presently 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 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 directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TXT. UBS Group upgraded Textron from a "sell" rating to a "neutral" rating and increased their price objective for the company from $73.00 to $88.00 in a report on Monday. Citigroup cut their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Susquehanna upped their price target 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. Barclays upped their price target on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Morgan Stanley upped their price target 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. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Textron currently has an average rating of "Moderate Buy" and an average 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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