Baxter Bros Inc. Has $2.20 Million Holdings in Textron Inc. $TXT

Baxter Bros Inc. cut its holdings in shares of Textron Inc. (NYSE:TXT) by 12.9% during the second quarter, HoldingsChannel.com reports. The firm owned 27,335 shares of the aerospace company’s stock after selling 4,055 shares during the quarter. Baxter Bros Inc.’s holdings in Textron were worth $2,195,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Moody National Bank Trust Division lifted its position in Textron by 1.2% during the 2nd quarter. Moody National Bank Trust Division now owns 12,139 shares of the aerospace company’s stock valued at $975,000 after purchasing an additional 141 shares during the period. Brooklyn Investment Group increased its stake in shares of Textron by 10.3% in the 1st quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company’s stock valued at $120,000 after acquiring an additional 156 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Textron by 2.3% in the 2nd quarter. Fifth Third Bancorp now owns 7,063 shares of the aerospace company’s stock valued at $567,000 after acquiring an additional 159 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Textron by 7.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company’s stock valued at $207,000 after acquiring an additional 197 shares during the last quarter. Finally, Transce3nd LLC increased its stake in shares of Textron by 14.0% in the 1st quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company’s stock valued at $116,000 after acquiring an additional 199 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the company’s 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 completion of the transaction, the executive vice president owned 37,624 shares of the company’s stock, valued at $2,986,216.88. This represents a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by company insiders.

Textron Price Performance

NYSE TXT opened at $86.23 on Thursday. The business has a 50 day simple moving average of $81.40 and a 200 day simple moving average of $77.00. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $91.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.39 and a beta of 1.13.

Textron (NYSE:TXT) last posted its 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 return on equity of 14.26% and a net margin of 5.80%.The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the business earned $1.54 EPS. Textron’s revenue for the quarter 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 anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TXT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a research note on Wednesday. Barclays upped their price target on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Susquehanna upped their price target on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $95.00 price target (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Wall Street Zen cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 20th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $92.45.

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.