28,753 Shares in Textron Inc. $TXT Bought by Strs Ohio

Strs Ohio bought a new position in shares of Textron Inc. (NYSE:TXT) during the 2nd quarter, HoldingsChannel reports. The firm bought 28,753 shares of the aerospace company’s stock, valued at approximately $2,309,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TXT. Nuveen LLC purchased a new position in Textron during the 1st quarter worth $89,403,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Textron during the 2nd quarter valued at about $66,446,000. Millennium Management LLC grew its stake in Textron by 128.7% during the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock valued at $80,416,000 after purchasing an additional 626,346 shares during the last quarter. Invesco Ltd. grew its stake in Textron by 5.6% during the 1st 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 last quarter. Finally, Mackenzie Financial Corp grew its stake in Textron by 110.6% during the 1st quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company’s stock valued at $31,960,000 after purchasing an additional 232,277 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Performance

NYSE TXT opened at $79.98 on Tuesday. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.30 and a beta of 1.13. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $89.28. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $82.34 and a 200 day moving average of $78.92.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Textron had a return on equity of 14.16% and a net margin of 5.81%.Textron’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, December 12th. Textron’s payout ratio is 1.76%.

Analysts Set New Price Targets

Several research firms have weighed in on TXT. JPMorgan Chase & Co. dropped their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Morgan Stanley boosted their price target on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. UBS Group dropped their price target on Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 27th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.15.

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.