Victory Capital Management Inc. Sells 566,078 Shares of Textron Inc. $TXT

Victory Capital Management Inc. lessened its stake in Textron Inc. (NYSE:TXT) by 12.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,000,397 shares of the aerospace company’s stock after selling 566,078 shares during the period. Victory Capital Management Inc. owned approximately 2.27% of Textron worth $337,994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Textron by 2.5% in the second quarter. State Street Corp now owns 9,007,450 shares of the aerospace company’s stock worth $723,384,000 after acquiring an additional 217,401 shares during the period. Boston Partners grew its stake in shares of Textron by 1.5% during the 2nd quarter. Boston Partners now owns 7,190,786 shares of the aerospace company’s stock valued at $577,304,000 after purchasing an additional 109,277 shares during the period. LSV Asset Management lifted its stake in shares of Textron by 7.2% in the 2nd quarter. LSV Asset Management now owns 4,153,321 shares of the aerospace company’s stock worth $333,470,000 after purchasing an additional 279,237 shares during the period. Brandes Investment Partners LP boosted its holdings in shares of Textron by 19.9% in the second quarter. Brandes Investment Partners LP now owns 2,714,466 shares of the aerospace company’s stock worth $217,945,000 after buying an additional 451,017 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Textron by 144.1% during the second quarter. AQR Capital Management LLC now owns 2,664,612 shares of the aerospace company’s stock valued at $213,942,000 after buying an additional 1,573,206 shares during the period. 86.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TXT has been the topic of several recent research reports. Morgan Stanley set a $92.00 price target on shares of Textron in a research report on Thursday, January 29th. Weiss Ratings upgraded Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Sanford C. Bernstein upped their price target on Textron from $94.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, February 19th. UBS Group boosted their price objective on Textron from $89.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Textron from $88.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $98.60.

Textron Trading Up 2.1%

Shares of TXT stock opened at $100.68 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 0.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.49 and a beta of 0.95. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $101.57. The stock’s 50-day moving average price is $93.56 and its 200-day moving average price is $86.44.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 28th. The aerospace company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.01). The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Textron had a net margin of 6.22% and a return on equity of 14.63%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Equities research analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron’s dividend payout ratio is presently 1.57%.

Insider Buying and Selling at Textron

In other Textron news, Chairman Scott C. Donnelly sold 219,619 shares of Textron stock in a transaction on Friday, February 13th. The shares were sold at an average price of $98.41, for a total value of $21,612,705.79. Following the completion of the transaction, the chairman directly owned 742,418 shares of the company’s stock, valued at $73,061,355.38. This trade represents a 22.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP E Robert Lupone sold 28,056 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $98.84, for a total transaction of $2,773,055.04. Following the completion of the sale, the executive vice president owned 103,991 shares in the company, valued at approximately $10,278,470.44. This trade represents a 21.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 304,473 shares of company stock valued at $29,976,723 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

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.