Bank of Nova Scotia Makes New Investment in Textron Inc. $TXT

Bank of Nova Scotia bought a new position in Textron Inc. (NYSE:TXT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,293 shares of the aerospace company’s stock, valued at approximately $1,678,000.

A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Textron in the 2nd quarter worth approximately $1,434,125,000. AQR Capital Management LLC boosted its stake in Textron by 51.1% during the 4th quarter. AQR Capital Management LLC now owns 5,357,182 shares of the aerospace company’s stock valued at $466,986,000 after purchasing an additional 1,811,787 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Textron during the 2nd quarter valued at $105,946,000. Great Lakes Advisors LLC bought a new stake in shares of Textron in the 2nd quarter worth $81,224,000. Finally, Deutsche Bank AG bought a new stake in shares of Textron in the 2nd quarter worth $67,819,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

NYSE TXT opened at $83.26 on Thursday. The business’s fifty day moving average price is $89.00 and its 200-day moving average price is $91.26. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.19 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 0.85. Textron Inc. has a 1-year low of $78.12 and a 1-year high of $101.57.

Textron (NYSE:TXT) last released its quarterly earnings results on Tuesday, July 28th. The aerospace company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.81 billion. Textron had a return on equity of 14.30% and a net margin of 6.12%.The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. On average, equities analysts predict that Textron Inc. will post 6.5 earnings per share for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 11th. Textron’s dividend payout ratio (DPR) is presently 1.51%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TXT. JPMorgan Chase & Co. upped their price target on Textron from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Textron in a report on Sunday, May 3rd. UBS Group reissued a “neutral” rating and issued a $95.00 target price on shares of Textron in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Finally, TD Cowen dropped their price target on shares of Textron from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.44.

About Textron

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.