New York State Teachers Retirement System Lowers Stake in Textron Inc. $TXT

New York State Teachers Retirement System lessened its position in shares of Textron Inc. (NYSE:TXT) by 0.2% in the second quarter, Holdings Channel.com reports. The fund owned 142,178 shares of the aerospace company’s stock after selling 224 shares during the quarter. New York State Teachers Retirement System’s holdings in Textron were worth $11,415,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its position in Textron by 31.0% during the first 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. Mirae Asset Global Investments Co. Ltd. grew its position in Textron by 16.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company’s stock valued at $1,474,000 after acquiring an additional 2,803 shares during the period. LPL Financial LLC grew its position in Textron by 4.9% during the first quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company’s stock valued at $6,483,000 after acquiring an additional 4,204 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Textron during the first quarter valued at about $545,000. Finally, TD Asset Management Inc grew its position in Textron by 2.2% during the first quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company’s stock valued at $69,776,000 after acquiring an additional 20,733 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Transactions at Textron

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 sale, the executive vice president owned 37,624 shares in the company, valued at $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TXT shares. The Goldman Sachs Group restated a “neutral” rating and set a $85.00 price objective (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Morgan Stanley boosted their price objective on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Wall Street Zen cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Sunday. UBS Group upgraded Textron from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $73.00 to $88.00 in a research note on Monday, July 28th. Finally, Susquehanna boosted their price objective on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.45.

Textron Trading Down 0.4%

NYSE:TXT opened at $81.31 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. Textron Inc. has a one year low of $57.70 and a one year high of $91.30. The business’s 50-day simple moving average is $82.09 and its 200 day simple moving average is $77.46. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.32 and a beta of 1.13.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the firm posted $1.54 earnings per share. The company’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. As a group, sell-side analysts predict 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 paid a $0.02 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s payout ratio is 1.81%.

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.