Bank of New York Mellon Corp Has $99.65 Million Holdings in Textron Inc. $TXT

Bank of New York Mellon Corp decreased its holdings in Textron Inc. (NYSE:TXT) by 8.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,241,169 shares of the aerospace company’s stock after selling 108,053 shares during the quarter. Bank of New York Mellon Corp’s holdings in Textron were worth $99,653,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Hantz Financial Services Inc. grew its position in Textron by 2.9% during the second quarter. Hantz Financial Services Inc. now owns 4,963 shares of the aerospace company’s stock worth $398,000 after buying an additional 140 shares in the last quarter. Moody National Bank Trust Division grew its position in Textron by 1.2% in the second quarter. Moody National Bank Trust Division now owns 12,139 shares of the aerospace company’s stock valued at $975,000 after acquiring an additional 141 shares during the last quarter. Brooklyn Investment Group grew its position in Textron by 10.3% in the first quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company’s stock valued at $120,000 after acquiring an additional 156 shares during the last quarter. Fifth Third Bancorp raised its stake in Textron by 2.3% during the second quarter. Fifth Third Bancorp now owns 7,063 shares of the aerospace company’s stock worth $567,000 after acquiring an additional 159 shares in the last quarter. Finally, 3Chopt Investment Partners LLC lifted its holdings in shares of Textron by 3.3% in the second quarter. 3Chopt Investment Partners LLC now owns 5,333 shares of the aerospace company’s stock worth $428,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Up 2.0%

Shares of TXT opened at $82.05 on Friday. The company has a market capitalization of $14.46 billion, a PE ratio of 18.03, a PEG ratio of 1.30 and a beta of 1.13. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $89.28. The stock’s 50-day moving average price is $82.32 and its two-hundred day moving average price is $79.16. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.08. Textron had a return on equity of 14.16% and a net margin of 5.81%.The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, analysts anticipate 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 Thursday, January 1st. Shareholders of record on Friday, December 12th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, December 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Monday, October 27th. Susquehanna raised their target price 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. Sanford C. Bernstein reiterated a “market perform” rating and set a $90.00 price target on shares of Textron in a report on Monday, October 27th. UBS Group dropped their price target on Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Finally, TD Cowen cut their price objective on Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.15.

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.