Korea Investment CORP Sells 6,897 Shares of Textron Inc. $TXT

Korea Investment CORP cut its holdings in shares of Textron Inc. (NYSE:TXT) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,536 shares of the aerospace company’s stock after selling 6,897 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Textron worth $8,998,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TXT. Nuveen LLC purchased a new stake in shares of Textron during the 1st quarter valued at $89,403,000. Balyasny Asset Management L.P. increased its position in shares of Textron by 6,785.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock valued at $94,575,000 after purchasing an additional 1,218,485 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Textron by 97.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company’s stock valued at $78,872,000 after purchasing an additional 510,085 shares during the last quarter. Invesco Ltd. increased its position 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 buying an additional 433,567 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position 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 buying an additional 259,350 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Julie G. Duffy sold 28,543 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Textron Price Performance

Shares of NYSE TXT opened at $81.4280 on Friday. The stock has a market cap of $14.51 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.30 and a beta of 1.16. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.48. 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 stock has a fifty day moving average of $80.43 and a 200-day moving average of $74.87.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion during 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 firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

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 given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron’s payout ratio is presently 1.81%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TXT. Jefferies Financial Group reissued a “buy” rating and issued a $95.00 target price (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Wall Street Zen downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. Morgan Stanley raised their target price on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Susquehanna raised their target price 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 reissued a “neutral” rating and issued a $85.00 target price (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.67.

Textron 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.