Public Sector Pension Investment Board Acquires 1,497 Shares of Textron Inc. $TXT

Public Sector Pension Investment Board lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,452 shares of the aerospace company’s stock after purchasing an additional 1,497 shares during the period. Public Sector Pension Investment Board’s holdings in Textron were worth $1,767,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in Textron in the first quarter worth approximately $89,403,000. Balyasny Asset Management L.P. boosted its holdings in Textron by 6,785.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock worth $94,575,000 after acquiring an additional 1,218,485 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Textron by 97.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company’s stock worth $78,872,000 after acquiring an additional 510,085 shares in the last quarter. Invesco Ltd. boosted its holdings in Textron by 5.6% in the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock worth $590,059,000 after acquiring an additional 433,567 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Textron by 88.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 550,976 shares of the aerospace company’s stock worth $42,144,000 after acquiring an additional 259,350 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Down 0.4%

TXT stock opened at $79.3760 on Thursday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.48. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $80.31 and its 200-day moving average is $74.80. The firm has a market capitalization of $14.15 billion, a PE ratio of 17.96, a P/E/G ratio of 1.30 and a beta of 1.16.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the company earned $1.54 earnings per share. The company’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. Sell-side analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend 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%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TXT. Wall Street Zen lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 26th. Barclays increased their price target on Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. 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 report on Tuesday, July 1st. Jefferies Financial Group reiterated 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, Susquehanna raised their target price on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a report on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.67.

Insider Activity at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the sale, the executive vice president directly owned 37,624 shares of the company’s stock, valued at approximately $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.