Y Intercept Hong Kong Ltd Makes New Investment in Textron Inc. $TXT

Y Intercept Hong Kong Ltd bought a new position in Textron Inc. (NYSE:TXT) during the second quarter, HoldingsChannel.com reports. The fund bought 5,289 shares of the aerospace company’s stock, valued at approximately $425,000.

A number of other institutional investors have also recently made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new position in Textron in the first quarter worth about $25,000. Harvest Fund Management Co. Ltd increased its position in shares of Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock valued at $39,000 after purchasing an additional 262 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Textron during the 1st quarter valued at $41,000. Rosenberg Matthew Hamilton bought a new stake in Textron in the second quarter worth $60,000. Finally, Federated Hermes Inc. boosted its stake in Textron by 48.8% during the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock worth $58,000 after buying an additional 263 shares during the period. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. TD Cowen reduced their price target on Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Susquehanna boosted their price objective on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a report on Friday, July 25th. Morgan Stanley increased their target price on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $92.15.

Textron Price Performance

NYSE TXT opened at $82.05 on Friday. The company has a market cap of $14.46 billion, a PE ratio of 18.03, a P/E/G ratio of 1.30 and a beta of 1.13. The firm’s 50 day moving average price is $82.32 and its 200-day moving average price is $79.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.84. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $89.28.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.70 billion. Textron had a net margin of 5.81% and a return on equity of 14.16%. Textron’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts forecast 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 Thursday, January 1st. Investors of record on Friday, December 12th will be paid 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 is Friday, December 12th. Textron’s dividend payout ratio is 1.76%.

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.