LSV Asset Management Purchases 279,237 Shares of Textron Inc. $TXT

LSV Asset Management lifted its position in shares of Textron Inc. (NYSE:TXT) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,153,321 shares of the aerospace company’s stock after purchasing an additional 279,237 shares during the period. Textron accounts for about 0.8% of LSV Asset Management’s holdings, making the stock its 27th biggest position. LSV Asset Management owned approximately 2.33% of Textron worth $333,470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its stake in Textron by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company’s stock valued at $824,408,000 after buying an additional 76,972 shares during the last quarter. Invesco Ltd. grew its holdings in Textron by 5.6% during the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock valued at $590,059,000 after purchasing an additional 433,567 shares during the period. Boston Partners grew its position in Textron by 1.5% in the 2nd quarter. Boston Partners now owns 7,188,001 shares of the aerospace company’s stock valued at $577,081,000 after acquiring an additional 106,492 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Textron by 10.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company’s stock worth $89,838,000 after buying an additional 120,577 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Textron during the first quarter worth about $89,403,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Textron Stock Down 1.0%

Shares of NYSE TXT opened at $80.66 on Monday. The stock has a fifty day moving average price of $82.46 and a 200 day moving average price of $79.79. 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 12-month low of $57.70 and a 12-month high of $87.94. The company has a market cap of $14.21 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.30 and a beta of 1.13.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. Textron had a return on equity of 14.16% and a net margin of 5.81%.The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, December 12th. Textron’s payout ratio is presently 1.76%.

Textron Company 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.