Laurel Wealth Advisors LLC Increases Stock Holdings in Textron Inc. $TXT

Laurel Wealth Advisors LLC significantly increased its holdings in Textron Inc. by 7,929% in Q2, owning 8,029 shares worth $645,000. Other investors also modified their positions. Analysts have mixed ratings on Textron, with a consensus price target of $92.15. Textron reported Q3 earnings of $1.55 per share, beating estimates, with revenue up 5.1% year-over-year. The company announced a quarterly dividend of $0.02 per share. Textron operates in aircraft, defense, industrial, and finance sectors.

Laurel Wealth Advisors LLC raised its holdings in Textron Inc. (NYSE:TXT - Free Report) by 7,929.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,029 shares of the aerospace company's stock after buying an additional 7,929 shares during the quarter. Laurel Wealth Advisors LLC's holdings in Textron were worth $645,000 at the end of the most recent reporting period.

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Other large investors have also modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in shares of Textron in the 1st quarter valued at approximately $25,000. Assetmark Inc. raised its holdings in shares of Textron by 191.9% in the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company's stock worth $26,000 after buying an additional 213 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Textron during the second quarter valued at $27,000. Harvest Fund Management Co. Ltd increased its position in shares of Textron by 100.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock valued at $39,000 after acquiring an additional 262 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in Textron in the 1st quarter worth $41,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TXT. Wall Street Zen upgraded Textron from a "buy" rating to a "strong-buy" rating in a research note on Monday, October 27th. JPMorgan Chase & Co. cut their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, October 27th. Weiss Ratings restated a "hold (c+)" rating on shares of Textron in a research note on Wednesday, October 8th. TD Cowen cut their price objective on shares of Textron from $95.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, October 24th. Finally, UBS Group decreased their target price on shares of Textron from $92.00 to $89.00 and set a "neutral" rating for the company in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Textron has an average rating of "Hold" and a consensus price target of $92.15.

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Check Out Our Latest Stock Report on TXT

Textron Price Performance

NYSE:TXT opened at $84.20 on Friday. The company has a 50 day moving average price of $82.32 and a 200-day moving average price of $80.37. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $87.94. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86.

What makes Textron a must-own aerospace stock for 2024?

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. The company 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 firm's revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders 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 currently 1.76%.

About Textron

(Free Report)

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.

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