Envestnet Portfolio Solutions Inc. Reduces Holdings in Textron Inc. $TXT

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Textron Inc. (NYSE:TXT) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,219 shares of the aerospace company’s stock after selling 677 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Textron were worth $660,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its stake in Textron by 7.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company’s stock valued at $207,000 after purchasing an additional 197 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Textron by 1.0% during the first quarter. State of Alaska Department of Revenue now owns 21,373 shares of the aerospace company’s stock valued at $1,544,000 after buying an additional 220 shares during the last quarter. Stonegate Investment Group LLC purchased a new stake in shares of Textron during the first quarter valued at $291,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Textron by 31.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company’s stock valued at $2,776,000 after acquiring an additional 9,082 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in Textron by 10.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 74,463 shares of the aerospace company’s stock worth $5,380,000 after acquiring an additional 7,249 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Price Performance

Shares of NYSE TXT opened at $82.35 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.32 and a beta of 1.13. The firm’s 50 day simple moving average is $82.19 and its 200-day simple moving average is $77.69. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.30.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The firm’s quarterly 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. Analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, September 12th. Textron’s payout ratio is currently 1.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TXT shares. Wall Street Zen lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Sunday. Barclays increased their price target on shares of Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Susquehanna lifted their price objective on shares of Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Morgan Stanley upped their price objective on shares of Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. 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 seven have assigned a Hold rating to the company. According to MarketBeat, Textron presently has a consensus rating of “Hold” and an average price target of $92.45.

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the transaction, the executive vice president owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

About Textron

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.