Harvest Portfolios Group Inc. Grows Holdings in Textron Inc. $TXT

Harvest Portfolios Group Inc. increased its stake in shares of Textron Inc. (NYSE:TXT) by 4.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 24,522 shares of the aerospace company’s stock after purchasing an additional 945 shares during the period. Harvest Portfolios Group Inc.’s holdings in Textron were worth $1,969,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its holdings in Textron by 4.9% during the 1st 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 1st quarter worth approximately $545,000. TD Asset Management Inc lifted its holdings in Textron by 2.2% during the 1st quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company’s stock worth $69,776,000 after buying an additional 20,733 shares in the last quarter. Millennium Management LLC boosted its position in Textron by 128.7% in the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock valued at $80,416,000 after buying an additional 626,346 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Textron in the first quarter worth $304,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price 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. 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 research report on Thursday, July 17th. Wall Street Zen raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 27th. UBS Group lowered their target price on shares of Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Finally, Susquehanna raised their price target on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Six 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 has a consensus rating of “Hold” and an average price target of $92.15.

Textron Trading Up 2.0%

NYSE TXT opened at $82.05 on Friday. The firm’s fifty day moving average is $82.32 and its two-hundred day moving average is $79.16. Textron Inc. has a one year low of $57.70 and a one year high of $89.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.84. The firm has a market cap of $14.46 billion, a PE ratio of 18.03, a P/E/G ratio of 1.30 and a beta of 1.13.

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

Textron Announces Dividend

The business also recently declared 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 is Friday, December 12th. Textron’s dividend payout ratio (DPR) is presently 1.76%.

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.