Legal & General Group Plc Makes New Investment in Textron Inc. $TXT

Legal & General Group Plc bought a new position in Textron Inc. (NYSE:TXT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 855,023 shares of the aerospace company’s stock, valued at approximately $78,431,000.

Other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Textron in the 2nd quarter valued at approximately $8,045,000. Manning & Napier Advisors LLC purchased a new position in Textron during the 2nd quarter worth approximately $121,000. Cibc World Market Inc. purchased a new position in Textron during the 2nd quarter worth approximately $6,215,000. OMERS ADMINISTRATION Corp acquired a new stake in Textron during the 2nd quarter valued at $3,473,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Textron in the second quarter valued at $1,778,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Textron from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. UBS Group reissued a “neutral” rating and issued a $95.00 price objective on shares of Textron in a research note on Wednesday, July 29th. Morgan Stanley set a $98.00 price objective on Textron in a research report on Wednesday, July 29th. TD Cowen lowered their target price on Textron from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, July 13th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Textron in a research report on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.44.

Textron Trading Down 1.1%

Shares of NYSE:TXT opened at $82.40 on Friday. The firm has a fifty day moving average of $88.86 and a two-hundred day moving average of $91.17. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 0.43. Textron Inc. has a 12-month low of $78.12 and a 12-month high of $101.57. The firm has a market capitalization of $14.17 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91.

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

Textron Announces Dividend

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 is presently 1.51%.

Textron Company 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.