Sky Investment Group LLC Has $261,000 Position in Textron Inc. $TXT

Sky Investment Group LLC cut its holdings in Textron Inc. (NYSE:TXT) by 19.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,250 shares of the aerospace company’s stock after selling 800 shares during the period. Sky Investment Group LLC’s holdings in Textron were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in shares of Textron in the 1st quarter worth about $25,000. Harvest Fund Management Co. Ltd raised its position in shares of Textron by 100.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after acquiring an additional 262 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Textron in the 1st quarter valued at about $41,000. Federated Hermes Inc. increased its position in Textron by 48.8% in the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock valued at $58,000 after buying an additional 263 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock valued at $61,000 after buying an additional 465 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the transaction, the executive vice president owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TXT has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. The Goldman Sachs Group reaffirmed 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. UBS Group raised Textron from a “sell” rating to a “neutral” rating and boosted their target price for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Susquehanna boosted their target price on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, Barclays boosted their target price on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.67.

Textron Price Performance

Shares of NYSE TXT opened at $83.94 on Friday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.30. The stock’s 50 day moving average price is $80.96 and its 200-day moving average price is $75.93. The company has a market capitalization of $14.96 billion, a PE ratio of 18.99, a PEG ratio of 1.35 and a beta of 1.14. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share 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 firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The company’s 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. On average, equities analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron’s payout ratio is presently 1.81%.

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.