ING Groep NV lifted its stake in shares of Textron Inc. (NYSE:TXT – Free Report) by 175.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,374 shares of the aerospace company’s stock after purchasing an additional 40,336 shares during the quarter. ING Groep NV’s holdings in Textron were worth $5,524,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp raised its stake in shares of Textron by 2.4% during the third quarter. State Street Corp now owns 9,220,307 shares of the aerospace company’s stock valued at $779,205,000 after purchasing an additional 212,857 shares in the last quarter. Invesco Ltd. raised its stake in shares of Textron by 1.7% during the third quarter. Invesco Ltd. now owns 8,270,901 shares of the aerospace company’s stock valued at $698,808,000 after purchasing an additional 140,713 shares in the last quarter. Boston Partners raised its stake in shares of Textron by 0.9% during the third quarter. Boston Partners now owns 7,257,533 shares of the aerospace company’s stock valued at $613,327,000 after purchasing an additional 66,747 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Textron by 33.1% during the third quarter. AQR Capital Management LLC now owns 3,545,395 shares of the aerospace company’s stock valued at $298,239,000 after purchasing an additional 880,783 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Textron by 6.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,146,467 shares of the aerospace company’s stock valued at $181,348,000 after purchasing an additional 138,128 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.
Insider Transactions at Textron
In other news, Director R Kerry Clark sold 2,517 shares of Textron stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total value of $234,307.53. Following the transaction, the director directly owned 8,611 shares of the company’s stock, valued at $801,597.99. This trade represents a 22.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas A. Kennedy purchased 10,300 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were purchased at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the acquisition, the director directly owned 20,162 shares of the company’s stock, valued at $1,935,148.76. This trade represents a 104.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.90% of the company’s stock.
Textron Price Performance
Textron (NYSE:TXT – Get Free Report) last released its earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.15. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 14.56% and a net margin of 6.15%.Textron’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, sell-side analysts predict that Textron Inc. will post 6.6 earnings per share for the current fiscal year.
Textron Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is currently 1.53%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Textron from $90.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Citigroup lifted their price objective on shares of Textron from $97.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Textron in a report on Sunday, May 3rd. UBS Group lifted their target price on Textron from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, TD Cowen raised Textron from a “hold” rating to a “buy” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.18.
Get Our Latest Stock Analysis on Textron
Textron 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.
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