ProShare Advisors LLC Purchases 1,976 Shares of Textron Inc. $TXT

ProShare Advisors LLC increased its holdings in Textron Inc. (NYSE:TXT) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,156 shares of the aerospace company’s stock after purchasing an additional 1,976 shares during the period. ProShare Advisors LLC’s holdings in Textron were worth $3,465,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TXT. Envestnet Asset Management Inc. lifted its stake in Textron by 0.8% in the first quarter. Envestnet Asset Management Inc. now owns 131,973 shares of the aerospace company’s stock worth $9,535,000 after purchasing an additional 1,084 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Textron by 30.9% during the 1st quarter. Signaturefd LLC now owns 3,871 shares of the aerospace company’s stock worth $280,000 after acquiring an additional 914 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Textron by 6.4% during the 1st quarter. Apollon Wealth Management LLC now owns 3,599 shares of the aerospace company’s stock valued at $260,000 after acquiring an additional 215 shares during the period. Dakota Wealth Management bought a new position in Textron in the 1st quarter valued at $256,000. Finally, Massachusetts Financial Services Co. MA increased its stake in Textron by 34.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 120,672 shares of the aerospace company’s stock worth $8,719,000 after purchasing an additional 30,892 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Textron in a report on Wednesday, October 8th. Sanford C. Bernstein restated a “market perform” rating and issued a $90.00 target price on shares of Textron in a research note on Monday, October 27th. TD Cowen reduced their target price on shares of Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, October 24th. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Finally, Barclays raised their price objective on Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Textron currently has an average rating of “Hold” and an average target price of $92.15.

Textron Stock Performance

Shares of TXT stock opened at $80.66 on Friday. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.30 and a beta of 1.13. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $87.94. The company has a quick ratio of 0.86, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $82.46 and its 200 day moving average is $79.66.

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

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be issued a $0.02 dividend. 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 payout ratio is currently 1.76%.

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.