Cannell & Spears LLC Boosts Stake in Textron Inc. $TXT

Cannell & Spears LLC increased its holdings in shares of Textron Inc. (NYSE:TXT) by 32.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 57,903 shares of the aerospace company’s stock after acquiring an additional 14,266 shares during the period. Cannell & Spears LLC’s holdings in Textron were worth $4,977,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TXT. AQR Capital Management LLC raised its position in shares of Textron by 51.1% in the 4th quarter. AQR Capital Management LLC now owns 5,357,182 shares of the aerospace company’s stock worth $466,986,000 after acquiring an additional 1,811,787 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Textron by 270.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,005,843 shares of the aerospace company’s stock valued at $80,759,000 after buying an additional 734,478 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Textron during the 3rd quarter valued at approximately $56,255,000. Dimensional Fund Advisors LP lifted its position in shares of Textron by 18.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,551,781 shares of the aerospace company’s stock valued at $222,455,000 after acquiring an additional 405,314 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Textron in the first quarter valued at approximately $34,274,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Trading Up 2.5%

NYSE TXT opened at $95.49 on Friday. The firm’s fifty day moving average is $91.08 and its two-hundred day moving average is $92.04. Textron Inc. has a one year low of $75.80 and a one year high of $101.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.87 and a current ratio of 1.84. The firm has a market cap of $16.60 billion, a PE ratio of 18.26, a P/E/G ratio of 1.43 and a beta of 0.90.

Textron (NYSE:TXT) last released its quarterly 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 $3.69 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%.The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted $1.28 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Analysts expect that Textron Inc. will post 6.6 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were paid 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 1.53%.

Analysts Set New Price Targets

TXT has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Textron in a report on Sunday, May 3rd. Wells Fargo & Company initiated coverage on shares of Textron in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $92.00 price target for the company. Weiss Ratings upgraded shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Morgan Stanley set a $97.00 price objective on shares of Textron in a report on Wednesday, July 15th. Finally, UBS Group upped their target price on shares of Textron from $99.00 to $100.00 and gave the company a “buy” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and an average price target of $103.10.

Insider Buying and Selling at Textron

In other news, Director Thomas A. Kennedy acquired 10,300 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average cost of $95.98 per share, for a total transaction of $988,594.00. Following the transaction, the director directly owned 20,162 shares in the company, valued at approximately $1,935,148.76. This represents a 104.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director R Kerry Clark sold 2,517 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total transaction of $234,307.53. Following the completion of the transaction, the director directly owned 8,611 shares in the company, valued at $801,597.99. This represents a 22.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by company insiders.

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.