Textron Inc. $TXT Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC grew its holdings in shares of Textron Inc. (NYSE:TXT) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,156 shares of the aerospace company’s stock after purchasing an additional 1,976 shares during the period. ProShare Advisors LLC’s holdings in Textron were worth $3,465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new stake in Textron in the first quarter valued at approximately $25,000. Assetmark Inc. lifted its stake in Textron by 191.9% during the 2nd quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 213 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of Textron in the 2nd quarter valued at $27,000. Harvest Fund Management Co. Ltd increased 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 worth $39,000 after acquiring an additional 262 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Textron during the first quarter worth $41,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TXT. Barclays upped their price target on shares of Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Susquehanna upped their target price on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a report on Wednesday, October 8th. Wall Street Zen raised Textron from a “buy” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, UBS Group dropped their price objective 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. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.15.

Textron Stock Performance

NYSE TXT opened at $80.66 on Friday. The stock has a market capitalization of $14.21 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.30 and a beta of 1.13. The stock has a 50-day moving average of $82.46 and a 200 day moving average of $79.66. 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 Inc. has a twelve month low of $57.70 and a twelve month high of $87.94.

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