Victory Capital Management, Inc. has recently announced that it has increased stake in Textron Inc. (NYSE:TXT) by 3.38%. After grabbing 6.76 million shares, the institutional investor is now in possession of 0.22 million shares of the Industrials Company. The new investment brought the stake of investor firm to 3.45% having worth around $543.35 million. Moreover, PRIMECAP Management Co. increased its share by 0.48 million to have a control over 5.39 million shares. And JPMorgan Investment Management, I raised its holdings to 0.31 million shares by acquiring 5.01 million shares or 2.56% of the stake.
Textron Inc. (TXT) concluded trading on Wednesday at a closing price of $85.55, with 3.25 million shares of worth about $277.74 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 25.59% during that period and On Wednesday, January 24 the price saw a gain of about 7.84%. Currently the company’s common shares owned by public are about 206.16M shares, out of which, 194.82M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 29 times over the past 12 months. They bought 422,896 shares in 17 of the transactions. In 12 selling transactions, insiders dumped 365,307 shares.
T Rowe Price Mid Cap Growth Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Textron Inc. T Rowe Price Mid Cap Growth Fund is currently holding 6.63 million shares of worth totaling $533.53 million. The company recently came selling -0.82 million shares which brought its stake up to 3.39% of the company’s outstanding shares. Vanguard Total Stock Market ETF sold 59898.0 shares, after which its hold over company’s outstanding shares shrunk to 3.14%, leaving 6.15 million shares with the mutual fund that have a worth of about $494.38 million. Vanguard 500 Index Fund, after selling 4.79 million shares, have now control over 2.44% of the stake in the company. It holds 39457.0 shares of worth $384.88 million.
However, the stock later moved at a day high price of 86.35, or with a gain of 7.84%. Stock saw a price change of 10.99% in past 5 days and over the past one month there was a price change of 6.84%. Year-to-date (YTD), TXT shares are showing a performance of 6.38% which increased to 24.02% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $61.27 but also hit the highest price of $81.59 during that period. The average intraday trading volume for Textron Inc. shares is 1.21 million. The stock is currently trading 8.14% above its 20-day simple moving average (SMA20), while that difference is up 9.47% for SMA50 and it goes to 16.87% higher than SMA200.
Victory Capital Management, Inc. acquired 6.76 million shares of Textron Inc. having value of about $543.35 million. Data submitted at the U.S SEC by Victory Capital Management, Inc. revealed that the firm now holds 0.22 million shares in the company valued at close to $18897225.05, or have control over 3.38% stake in the company. Textron Inc. (NYSE: TXT) currently have 206.16M outstanding shares and institutions hold larger chunk of about 85.59% of that. Holding of mutual funds in the company is about 31.25% while other institutional holders and individual stake holders have control over 54.44% and 0.91% of the stake respectively.
The stock has a current market capitalization of $16.77B and its 3Y-monthly beta is at 1.29. PE ratio of stock for trailing 12 months is 18.73, while it has posted earnings per share of $4.57 in the same period. Its PEG reads 1.07 and has Quick Ratio of 0.88 while making debt-to-equity ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TXT, volatility over the week remained 2.23% while standing at 1.59% over the month.
Analysts are in expectations that Textron Inc. (TXT) stock would likely to be making an EPS of $1.54 in the current quarter, while forecast for next quarter EPS is $1.21 and it is $5.9 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.5 which is $1.64 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 8.01% while it is estimated to increase by 12.92% in next year. EPS is likely to grow at an annualized rate of 17.50% for next 5-years, compared to annual growth of -1.11% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on October 11, 2023 offering a Sell rating for the stock and assigned a target price of $73 to it.
