First Trust Advisors LP Has $29.21 Million Stock Position in Textron Inc. $TXT

First Trust Advisors LP trimmed its position in shares of Textron Inc. (NYSE:TXT) by 27.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,832 shares of the aerospace company’s stock after selling 137,135 shares during the period. First Trust Advisors LP’s holdings in Textron were worth $29,212,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Crescent Grove Advisors LLC bought a new stake in Textron during the second quarter valued at about $1,094,000. EverSource Wealth Advisors LLC boosted its stake in Textron by 2,309.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,614 shares of the aerospace company’s stock worth $290,000 after purchasing an additional 3,464 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new stake in shares of Textron in the second quarter valued at approximately $346,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Textron by 62.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,231,492 shares of the aerospace company’s stock valued at $98,876,000 after purchasing an additional 471,274 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its holdings in Textron by 19.9% during the second quarter. Brandes Investment Partners LP now owns 2,714,466 shares of the aerospace company’s stock worth $217,945,000 after buying an additional 451,017 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Textron Stock Performance

NYSE TXT opened at $85.08 on Thursday. The company has a market capitalization of $14.99 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.36 and a beta of 1.01. The company has a quick ratio of 0.86, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $87.94. The firm has a 50-day moving average price of $82.30 and a two-hundred day moving average price of $80.87.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. Textron had a net margin of 5.81% and a return on equity of 14.16%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the company earned $1.40 EPS. The business’s revenue for the quarter was up 5.1% 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 year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, December 12th. Textron’s dividend payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TXT shares. Wall Street Zen upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. Sanford C. Bernstein reissued a “market perform” rating and issued a $90.00 price target on shares of Textron in a research note on Monday, October 27th. JPMorgan Chase & Co. lowered their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Finally, TD Cowen decreased their price objective on Textron from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.