Janney Montgomery Scott LLC Sells 2,305 Shares of Textron Inc. $TXT

Janney Montgomery Scott LLC lessened its stake in Textron Inc. (NYSE:TXT) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,694 shares of the aerospace company’s stock after selling 2,305 shares during the period. Janney Montgomery Scott LLC’s holdings in Textron were worth $1,340,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Banque Cantonale Vaudoise acquired a new stake in Textron during the 1st quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Textron by 100.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock valued at $39,000 after purchasing an additional 262 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Textron during the first quarter worth $41,000. Federated Hermes Inc. raised its stake in Textron by 48.8% during the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock worth $58,000 after buying an additional 263 shares during the last quarter. Finally, ST Germain D J Co. Inc. lifted its holdings in Textron by 54.5% in the second quarter. ST Germain D J Co. Inc. now owns 850 shares of the aerospace company’s stock valued at $68,000 after buying an additional 300 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Down 3.6%

Shares of NYSE:TXT opened at $81.58 on Monday. The business’s 50 day moving average is $81.62 and its 200 day moving average is $77.15. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.30. The stock has a market cap of $14.54 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.32 and a beta of 1.13. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The business’s 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. On average, sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TXT shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Textron in a research report on Wednesday, October 8th. Susquehanna raised 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. Barclays lifted their target price on Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Morgan Stanley increased their price target on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $85.00 price objective (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.45.

Insiders Place Their Bets

In other news, EVP Julie G. Duffy sold 28,543 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 37,624 shares of the company’s stock, valued at $2,986,216.88. This trade represents a 43.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.