AEGON ASSET MANAGEMENT UK Plc Buys Shares of 391,386 Textron Inc. $TXT

Key Points

• AEGON ASSET MANAGEMENT UK Plc initiated a new position in Textron during Q1, buying 391,386 shares worth about $34.3 million and owning 0.22% of the company. Other institutional investors also increased holdings, and institutions now own 86.03% of the stock.
• Textron’s recent earnings beat expectations, reporting $1.45 EPS on $3.69 billion in revenue versus analyst forecasts of $1.30 EPS and $3.50 billion in revenue. The company also raised full-year guidance, with analysts currently holding a Moderate Buy consensus and a target price around $101.18.
• Insider trading was mixed: Director Thomas A. Kennedy bought 10,300 shares, while Director R. Kerry Clark sold 2,517 shares. Textron also announced a quarterly dividend of $0.02 per share, payable July 1.

AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Textron Inc. (NYSE:TXT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 391,386 shares of the aerospace company's stock, valued at approximately $34,274,000. AEGON ASSET MANAGEMENT UK Plc owned 0.22% of Textron as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of TXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Textron by 13.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,522 shares of the aerospace company's stock worth $1,049,000 after acquiring an additional 1,709 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Textron by 6.3% during the first quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company's stock valued at $1,546,000 after purchasing an additional 1,265 shares during the last quarter. Focus Partners Wealth raised its position in shares of Textron by 18.0% during the 1st quarter. Focus Partners Wealth now owns 4,814 shares of the aerospace company's stock worth $348,000 after purchasing an additional 735 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Textron during the 2nd quarter worth approximately $453,000. Finally, Baird Financial Group Inc. lifted its holdings in shares of Textron by 15.3% in the 2nd quarter. Baird Financial Group Inc. now owns 19,171 shares of the aerospace company's stock worth $1,539,000 after purchasing an additional 2,548 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Textron from $97.00 to $99.00 and gave the company a "neutral" rating in a research report on Thursday, April 2nd. JPMorgan Chase & Co. raised their target price on Textron from $90.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Textron from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. UBS Group boosted their price target on shares of Textron from $99.00 to $100.00 and gave the company a "buy" rating in a report on Monday, May 4th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Textron in a research report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.18.

Insiders Place Their Bets

In related news, Director Thomas A. Kennedy bought 10,300 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the transaction, the director directly owned 20,162 shares of the company's stock, valued at approximately $1,935,148.76. This represents a 104.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Kerry Clark sold 2,517 shares of the stock in a transaction dated 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 owned 8,611 shares of the company's stock, valued at $801,597.99. This represents a 22.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by company insiders.

Textron Stock Performance

Shares of NYSE TXT opened at $89.25 on Friday. Textron Inc. has a 12-month low of $75.80 and a 12-month high of $101.57. The company has a market cap of $15.52 billion, a PE ratio of 17.07, a P/E/G ratio of 1.34 and a beta of 0.90. The stock has a 50 day simple moving average of $91.24 and a 200-day simple moving average of $91.38. The company has a current ratio of 1.84, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.30 by $0.15. The firm had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.50 billion. Textron had a return on equity of 14.56% and a net margin of 6.15%.The firm's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $1.28 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. On average, equities research analysts forecast that Textron Inc. will post 6.6 EPS for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, June 12th. Textron's dividend payout ratio (DPR) is 1.53%.

Textron 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.

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