Voya Investment Management LLC Boosts Stock Holdings in Textron Inc. $TXT

Voya Investment Management LLC raised its position in shares of Textron Inc. (NYSE:TXT) by 7.5% in the third quarter, Holdings Channel.com reports. The fund owned 125,800 shares of the aerospace company’s stock after acquiring an additional 8,772 shares during the quarter. Voya Investment Management LLC’s holdings in Textron were worth $10,629,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Textron by 144.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,664,612 shares of the aerospace company’s stock valued at $213,942,000 after purchasing an additional 1,573,206 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Textron during the second quarter worth $66,446,000. Adage Capital Partners GP L.L.C. raised its position in shares of Textron by 270.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,005,843 shares of the aerospace company’s stock valued at $80,759,000 after buying an additional 734,478 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Textron by 128.7% in the first quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock worth $80,416,000 after buying an additional 626,346 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Textron by 62.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,231,492 shares of the aerospace company’s stock worth $98,876,000 after acquiring an additional 471,274 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TXT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Textron in a report on Monday. Sanford C. Bernstein restated a “market perform” rating and issued a $90.00 price target on shares of Textron in a research report on Monday, October 27th. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 27th. UBS Group dropped their target price on Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Finally, TD Cowen reduced their price target on Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.92.

Textron Stock Performance

Shares of Textron stock opened at $90.42 on Wednesday. The firm has a market cap of $15.93 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. 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 Inc. has a 52 week low of $57.70 and a 52 week high of $91.22. The business’s fifty day simple moving average is $82.93 and its 200-day simple moving average is $81.81.

Textron (NYSE:TXT) last issued its quarterly earnings data 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 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%. Textron’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, December 12th. Textron’s dividend payout ratio (DPR) is 1.76%.

Textron Company Profile

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.