Mufg Securities Americas Inc. Increases Stock Position in Textron Inc. $TXT

Mufg Securities Americas Inc. grew its position in shares of Textron Inc. (NYSE:TXT) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,001 shares of the aerospace company’s stock after purchasing an additional 769 shares during the period. Mufg Securities Americas Inc.’s holdings in Textron were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TXT. Assetmark Inc. increased its stake in Textron by 191.9% in the 2nd quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 213 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Textron during the 2nd quarter valued at approximately $27,000. Banque Cantonale Vaudoise purchased a new position in shares of Textron in the first quarter valued at $25,000. Harvest Fund Management Co. Ltd increased its position in Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 262 shares during the last quarter. Finally, Addison Advisors LLC purchased a new stake in Textron during the second quarter valued at $43,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Performance

Textron stock opened at $82.56 on Tuesday. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $87.94. The company’s 50-day moving average is $82.32 and its 200 day moving average is $80.21. The firm has a market capitalization of $14.55 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86.

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, topping 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 firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts forecast 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 Thursday, January 1st. Stockholders of record on Friday, December 12th will be given a dividend of $0.02 per share. 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 (DPR) is 1.76%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays increased their price objective on shares of Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. lowered their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Wall Street Zen raised Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Textron in a research report on Wednesday, October 8th. Finally, UBS Group dropped their target price on Textron from $92.00 to $89.00 and set a “neutral” rating for the company 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.