JPMorgan Chase & Co. Sells 295,161 Shares of Textron Inc. $TXT

JPMorgan Chase & Co. decreased its stake in shares of Textron Inc. (NYSE:TXT) by 8.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,267,772 shares of the aerospace company’s stock after selling 295,161 shares during the quarter. JPMorgan Chase & Co.’s holdings in Textron were worth $262,369,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TXT. Banque Cantonale Vaudoise acquired a new stake in Textron during the first quarter worth about $25,000. Assetmark Inc. lifted its position in shares of Textron by 191.9% in the 2nd quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 213 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Textron during the 2nd quarter worth approximately $27,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 262 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Textron during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Trading Up 1.5%

Shares of Textron stock opened at $82.56 on Tuesday. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $87.94. The stock has a market capitalization of $14.55 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. The company has a 50-day simple moving average of $82.32 and a 200 day simple moving average of $80.21. 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 (NYSE:TXT) last released its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. Textron had a net margin of 5.81% and a return on equity of 14.16%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, December 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron’s dividend payout ratio is 1.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays boosted their price target on shares of Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Textron in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered 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. TD Cowen cut their price target on shares of Textron from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, October 24th. Finally, Wall Street Zen raised Textron from a “buy” rating to a “strong-buy” rating in a report on Monday, October 27th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, 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.