V. M. Manning & CO. Inc. Purchases New Holdings in Textron Inc. $TXT

V. M. Manning & CO. Inc. acquired a new position in shares of Textron Inc. (NYSE:TXT) in the 2nd quarter, HoldingsChannel reports. The firm acquired 17,570 shares of the aerospace company’s stock, valued at approximately $1,407,000. Textron makes up approximately 1.6% of V. M. Manning & CO. Inc.’s holdings, making the stock its 10th largest position.

Other hedge funds have also made changes to their positions in the company. 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 worth $26,000 after acquiring an additional 213 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Textron in the 2nd quarter valued at $27,000. CYBER HORNET ETFs LLC purchased a new position in Textron in the 2nd quarter valued at $41,000. Addison Advisors LLC acquired a new stake in Textron during the 2nd quarter worth $43,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of Textron during the second quarter worth $60,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Up 0.5%

Shares of NYSE TXT opened at $87.25 on Monday. The company has a 50 day simple moving average of $82.32 and a 200-day simple moving average of $81.11. The company has a market capitalization of $15.37 billion, a P/E ratio of 19.18, a P/E/G ratio of 1.41 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $88.12.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The firm 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 firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities research analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 12th will be issued 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 dividend yield of 0.1%. Textron’s dividend payout ratio is currently 1.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TXT. Weiss Ratings raised shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, December 9th. 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 research note on Friday, October 24th. JPMorgan Chase & Co. lowered their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a 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. Finally, Citigroup started coverage on Textron in a research report on Thursday. They set a “neutral” rating and a $91.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Textron presently has an average rating of “Hold” and a consensus target price of $90.92.

Textron Company 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.