Neuberger Berman Group LLC Raises Stock Holdings in Textron Inc. $TXT

Neuberger Berman Group LLC increased its holdings in shares of Textron Inc. (NYSE:TXT) by 2.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 755,850 shares of the aerospace company’s stock after acquiring an additional 15,984 shares during the period. Neuberger Berman Group LLC’s holdings in Textron were worth $60,687,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Avantax Advisory Services Inc. increased its holdings in shares of Textron by 11.3% in the first quarter. Avantax Advisory Services Inc. now owns 6,786 shares of the aerospace company’s stock valued at $490,000 after purchasing an additional 689 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Textron by 10.5% in the 1st quarter. HB Wealth Management LLC now owns 5,274 shares of the aerospace company’s stock valued at $381,000 after buying an additional 501 shares during the period. LPL Financial LLC increased its holdings in shares of Textron by 4.9% during the 1st quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company’s stock worth $6,483,000 after buying an additional 4,204 shares during the last quarter. Federated Hermes Inc. increased its holdings in Textron by 48.8% in the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock valued at $58,000 after purchasing an additional 263 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Textron in the 1st quarter valued at $25,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Up 0.3%

TXT opened at $83.14 on Friday. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $87.94. The firm has a 50 day moving average price of $82.31 and a 200 day moving average price of $80.32. The company has a market cap of $14.65 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.84.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Textron had a return on equity of 14.16% and a net margin of 5.81%.The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current 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%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $90.00 target price on shares of Textron in a report on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Textron in a research report on Wednesday, October 8th. TD Cowen reduced their price target on Textron from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, October 24th. JPMorgan Chase & Co. cut their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Finally, UBS Group reduced their price target on shares of Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Textron currently has an average rating of “Hold” and a consensus price target of $92.15.

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.