Envestnet Portfolio Solutions Inc. Decreases Holdings in Textron Inc. $TXT

Envestnet Portfolio Solutions Inc. decreased its stake in Textron Inc. (NYSE:TXTFree Report) by 7.6% during the 2nd quarter, Holdings Channel reports. The firm owned 8,219 shares of the aerospace company’s stock after selling 677 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Textron were worth $660,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its stake in Textron by 17.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 58,567 shares of the aerospace company’s stock valued at $4,702,000 after buying an additional 8,625 shares in the last quarter. MGO One Seven LLC acquired a new position in shares of Textron during the second quarter valued at approximately $215,000. CWM LLC lifted its position in shares of Textron by 205.4% in the second quarter. CWM LLC now owns 37,171 shares of the aerospace company’s stock valued at $2,984,000 after acquiring an additional 25,001 shares in the last quarter. Sippican Capital Advisors acquired a new stake in shares of Textron in the second quarter worth approximately $201,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Textron during the second quarter worth approximately $538,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Activity at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the 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 transaction, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Textron Price Performance

Shares of TXT stock opened at $82.35 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. The company has a market capitalization of $14.68 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.32 and a beta of 1.13. The firm’s 50-day moving average is $82.19 and its two-hundred day moving average is $77.69. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.30.

Textron (NYSE:TXTGet Free Report) last posted its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a $0.02 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron’s payout ratio is currently 1.81%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Textron in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Sunday. UBS Group raised shares of Textron from a “sell” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Morgan Stanley increased their price objective on shares of Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Finally, Susquehanna boosted their target price on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $92.45.

Check Out Our Latest Stock Report on Textron

About Textron

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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