Swiss National Bank boosted its holdings in shares of Textron Inc. (NYSE:TXT – Free Report) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 517,189 shares of the aerospace company’s stock after purchasing an additional 28,800 shares during the quarter. Swiss National Bank owned about 0.30% of Textron worth $45,285,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in TXT. Wilkerson Advisory Group LLC purchased a new stake in Textron during the 4th quarter valued at approximately $26,000. Activest Wealth Management lifted its holdings in shares of Textron by 3,255.6% in the fourth quarter. Activest Wealth Management now owns 302 shares of the aerospace company’s stock worth $26,000 after buying an additional 293 shares in the last quarter. Cedar Mountain Advisors LLC purchased a new position in shares of Textron in the first quarter worth $29,000. Elyxium Wealth LLC bought a new position in shares of Textron during the fourth quarter worth $30,000. Finally, Strive Financial Group LLC bought a new position in shares of Textron during the fourth quarter worth $31,000. 86.03% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Textron in a report on Sunday, May 3rd. Weiss Ratings upgraded Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Wall Street Zen upgraded Textron from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup lifted their target price on Textron from $97.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Finally, Wells Fargo & Company assumed coverage on Textron in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $92.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.10.
Insider Transactions at Textron
In related news, Director R Kerry Clark sold 2,517 shares of Textron stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $93.09, for a total value of $234,307.53. Following the completion of the transaction, the director owned 8,611 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, Director Thomas A. Kennedy acquired 10,300 shares of Textron stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $95.98 per share, for a total transaction of $988,594.00. Following the completion of the purchase, the director directly owned 20,162 shares of the company’s stock, valued at $1,935,148.76. The trade was a 104.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.90% of the stock is currently owned by company insiders.
Textron Trading Up 1.3%
Shares of TXT opened at $91.74 on Thursday. The company’s fifty day moving average is $90.91 and its 200 day moving average is $91.98. Textron Inc. has a fifty-two week low of $75.80 and a fifty-two week high of $101.57. The stock has a market capitalization of $15.95 billion, a PE ratio of 17.54, a P/E/G ratio of 1.35 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.87 and a current ratio of 1.84.
Textron (NYSE:TXT – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.30 by $0.15. Textron had a net margin of 6.15% and a return on equity of 14.56%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business earned $1.28 earnings per share. Textron’s quarterly revenue was up 11.8% compared to the same quarter last year. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Sell-side analysts expect that Textron Inc. will post 6.6 earnings per share for the current fiscal year.
Textron Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, June 12th. Textron’s dividend payout ratio is currently 1.53%.
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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