Public Employees Retirement System of Ohio Purchases Shares of 53,597 Textron Inc. $TXT

Public Employees Retirement System of Ohio purchased a new stake in Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 53,597 shares of the aerospace company’s stock, valued at approximately $4,916,000.

Other hedge funds have also modified their holdings of the company. Pure Financial Advisors LLC bought a new position in shares of Textron during the second quarter worth about $329,000. Transamerica Financial Advisors LLC bought a new stake in Textron in the 2nd quarter valued at approximately $194,000. Corient Private Wealth LP acquired a new position in Textron during the 2nd quarter worth approximately $10,329,000. Bank of America Corp DE bought a new position in shares of Textron during the 2nd quarter worth approximately $63,076,000. Finally, Caisse de depot et placement du Quebec bought a new position in shares of Textron during the 2nd quarter worth approximately $36,650,000. 86.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group reiterated a “neutral” rating and issued a $95.00 price target on shares of Textron in a research note on Wednesday, July 29th. Weiss Ratings raised Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Wall Street Zen lowered Textron from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. TD Cowen reduced their price target on Textron from $115.00 to $105.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Finally, Morgan Stanley set a $98.00 price target on Textron in a research report on Wednesday, July 29th. One equities research 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 data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

Textron Stock Down 0.7%

Textron stock opened at $79.16 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 0.85. The company’s 50-day moving average is $88.33 and its 200-day moving average is $90.71. The firm has a market capitalization of $13.61 billion, a PE ratio of 14.94, a P/E/G ratio of 1.16 and a beta of 0.90. Textron Inc. has a fifty-two week low of $78.12 and a fifty-two week high of $101.57.

Textron (NYSE:TXT) last issued its earnings results on Tuesday, July 28th. The aerospace company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.07. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.81 billion. Textron had a net margin of 6.12% and a return on equity of 14.30%. Textron’s revenue 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. Sell-side analysts anticipate that Textron Inc. will post 6.5 earnings per share for the current year.

Textron Dividend Announcement

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

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.