Primecap Management Co. CA Lowers Stock Position in Textron Inc. $TXT

Primecap Management Co. CA lowered its position in shares of Textron Inc. (NYSE:TXT) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,988,340 shares of the aerospace company’s stock after selling 697,295 shares during the quarter. Primecap Management Co. CA owned 2.24% of Textron worth $320,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in TXT. Banque Cantonale Vaudoise bought a new position in shares of Textron during the 1st quarter valued at approximately $25,000. Assetmark Inc. grew its holdings in Textron by 191.9% during the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 213 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Textron in the second quarter worth $27,000. Harvest Fund Management Co. Ltd raised its stake in shares of Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock valued at $39,000 after buying an additional 262 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Textron during the 1st quarter valued at $41,000. Institutional investors own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group decreased their price objective on Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $90.00 target price on shares of Textron in a research note on Monday, October 27th. Wall Street Zen upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 27th. Susquehanna raised their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Textron in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $92.15.

Textron Price Performance

Shares of NYSE:TXT opened at $79.89 on Wednesday. The company has a 50 day moving average of $82.40 and a 200 day moving average of $79.92. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a market cap of $14.08 billion, a P/E ratio of 17.56, a P/E/G 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 $87.94.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. The firm 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%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, sell-side analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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 given a $0.02 dividend. This represents a $0.08 annualized dividend 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.