Minneapolis Portfolio Management Group LLC Purchases New Shares in Textron Inc. $TXT

Minneapolis Portfolio Management Group LLC purchased a new position in shares of Textron Inc. (NYSE:TXT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 251,278 shares of the aerospace company’s stock, valued at approximately $21,230,000. Textron accounts for about 2.4% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 26th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC grew its position in shares of Textron by 388.5% during the 3rd quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 237 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Textron by 191.9% in the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after buying an additional 213 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in Textron during the second quarter worth approximately $27,000. Quent Capital LLC bought a new position in Textron during the 3rd quarter worth $33,000. Finally, Private Trust Co. NA raised its holdings in Textron by 155.6% in the 3rd quarter. Private Trust Co. NA now owns 460 shares of the aerospace company’s stock valued at $39,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup boosted their price target on Textron from $91.00 to $107.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen decreased their target price on shares of Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Wall Street Zen raised shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Monday, October 27th. UBS Group increased their price target on shares of Textron from $89.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Textron presently has a consensus rating of “Hold” and a consensus price target of $96.33.

Textron Trading Up 0.9%

TXT opened at $94.38 on Friday. The company’s 50 day moving average is $86.38 and its 200-day moving average is $83.33. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.88. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a market cap of $16.63 billion, a P/E ratio of 20.74, a PEG ratio of 1.40 and a beta of 1.00.

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

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Friday, December 12th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, December 12th. Textron’s dividend payout ratio is presently 1.76%.

About Textron

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.