Arbejdsmarkedets Tillaegspension Buys New Stake in Textron Inc. $TXT

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in Textron during the first quarter, buying 279,715 shares worth about $24.5 million and owning 0.16% of the company afterward.
• Other institutions also added to or adjusted their Textron holdings, with institutional investors now controlling 86.03% of the stock. Insider activity was mixed, as director Thomas A. Kennedy bought shares while director R. Kerry Clark sold shares.
• Textron reported better-than-expected quarterly earnings, posting $1.45 EPS versus $1.30 expected and revenue of $3.69 billion, up 11.8% year over year. Analysts currently have a consensus rating of Hold with an average price target of $104.30.

Arbejdsmarkedets Tillaegspension purchased a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 279,715 shares of the aerospace company's stock, valued at approximately $24,492,000. Arbejdsmarkedets Tillaegspension owned 0.16% of Textron as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds 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 purchasing an additional 1,709 shares during the period. Empowered Funds LLC boosted its holdings in shares of Textron by 6.3% in the first quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company's stock valued at $1,546,000 after acquiring an additional 1,265 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Textron by 18.0% during the first quarter. Focus Partners Wealth now owns 4,814 shares of the aerospace company's stock valued at $348,000 after acquiring an additional 735 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Textron during the second quarter valued at approximately $453,000. Finally, Baird Financial Group Inc. raised its holdings in Textron by 15.3% during the second 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 in the last quarter. Institutional investors own 86.03% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TXT shares. TD Cowen decreased their price target on Textron from $115.00 to $105.00 and set a "hold" rating for the company in a research note on Monday. Weiss Ratings downgraded Textron from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. Wells Fargo & Company started coverage on Textron in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $92.00 price objective for the company. 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. Finally, Morgan Stanley set a $109.00 target price on Textron in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $104.30.

Insider Activity

In other news, Director Thomas A. Kennedy acquired 10,300 shares of Textron stock in a transaction on Friday, May 1st. The stock was bought at an average cost of $95.98 per share, with a total value of $988,594.00. Following the completion of the purchase, the director owned 20,162 shares of the company's stock, valued at $1,935,148.76. This represents a 104.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R Kerry Clark sold 2,517 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was 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 of the company's stock, valued at $801,597.99. This represents a 22.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by insiders.

Textron Stock Performance

TXT opened at $89.41 on Tuesday. The firm has a market cap of $15.55 billion, a PE ratio of 17.10, a P/E/G ratio of 1.36 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 1.84 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $91.08 and a 200-day simple moving average of $91.89. Textron Inc. has a fifty-two week low of $75.80 and a fifty-two week high of $101.57.

Textron (NYSE:TXT - Get Free Report) last announced its 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. Textron had a return on equity of 14.56% and a net margin of 6.15%.The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. Textron's revenue for the quarter was up 11.8% compared to the same quarter last year. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, equities analysts predict that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date was Friday, June 12th. Textron's payout ratio is presently 1.53%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.