Alliancebernstein L.P. Reduces Stock Holdings in Textron Inc. $TXT

Alliancebernstein L.P. reduced its stake in Textron Inc. (NYSE:TXT) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 222,634 shares of the aerospace company’s stock after selling 9,105 shares during the period. Alliancebernstein L.P.’s holdings in Textron were worth $16,085,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TXT. Amundi boosted its holdings in shares of Textron by 6.2% in the first quarter. Amundi now owns 106,269 shares of the aerospace company’s stock valued at $7,106,000 after acquiring an additional 6,177 shares during the period. Perbak Capital Partners LLP purchased a new position in shares of Textron in the 1st quarter valued at approximately $308,000. Dark Forest Capital Management LP purchased a new position in shares of Textron in the 1st quarter valued at approximately $3,544,000. Royal Bank of Canada grew its stake in shares of Textron by 1.0% in the 1st quarter. Royal Bank of Canada now owns 277,088 shares of the aerospace company’s stock valued at $20,020,000 after purchasing an additional 2,632 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Textron by 849.8% in the 1st quarter. Quarry LP now owns 7,617 shares of the aerospace company’s stock valued at $550,000 after purchasing an additional 6,815 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Up 1.6%

TXT opened at $82.30 on Friday. The business’s fifty day moving average is $80.96 and its two-hundred day moving average is $75.62. 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 company has a market cap of $14.67 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.32 and a beta of 1.14. Textron Inc. has a one year low of $57.70 and a one year high of $91.30.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping 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 the consensus estimate of $3.64 billion. During the same period in the previous year, the business earned $1.54 earnings per share. Textron’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. Analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid 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 dividend payout ratio (DPR) is presently 1.81%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TXT shares. Barclays lifted their target price on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $85.00 target price (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Morgan Stanley lifted their target price on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Finally, UBS Group upgraded Textron from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $88.00 in a research report on Monday, July 28th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

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.