VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 110,124 Shares of Textron Inc. $TXT

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Textron Inc. (NYSE:TXT) by 13.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 937,700 shares of the aerospace company’s stock after buying an additional 110,124 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.53% of Textron worth $79,226,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Diversified Trust Co increased its position in shares of Textron by 2.0% during the third quarter. Diversified Trust Co now owns 10,723 shares of the aerospace company’s stock worth $906,000 after acquiring an additional 209 shares in the last quarter. waypoint wealth counsel acquired a new position in Textron during the 3rd quarter valued at about $262,000. Perigon Wealth Management LLC bought a new stake in Textron during the 3rd quarter worth approximately $286,000. Apollon Wealth Management LLC raised its stake in shares of Textron by 24.4% in the third quarter. Apollon Wealth Management LLC now owns 3,134 shares of the aerospace company’s stock worth $265,000 after purchasing an additional 615 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Textron by 84.6% in the third quarter. CWM LLC now owns 68,619 shares of the aerospace company’s stock valued at $5,798,000 after purchasing an additional 31,448 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TXT shares. Weiss Ratings downgraded Textron from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Wall Street Zen upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. lowered their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report 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 on the stock in a report on Friday, October 24th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $90.00 price objective on shares of Textron in a research note on Monday, October 27th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Textron has a consensus rating of “Hold” and a consensus price target of $90.92.

Textron Trading Down 0.5%

Shares of TXT stock opened at $88.30 on Wednesday. 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 firm has a market cap of $15.56 billion, a P/E ratio of 19.41, a PEG ratio of 1.44 and a beta of 1.01. The company has a 50 day moving average of $83.65 and a 200-day moving average of $82.24. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.22.

Textron (NYSE:TXT) last announced its quarterly earnings data 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. Textron had a return on equity of 14.16% and a net margin of 5.81%.The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the company earned $1.40 earnings per share. Textron’s revenue was up 5.1% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, December 12th. Textron’s payout ratio is currently 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.