Bank of America Corp DE Buys Shares of 687,627 Textron Inc. $TXT

Key Points

• Bank of America acquired 687,627 Textron shares worth approximately $63.1 million in the second quarter, giving it about a 0.40% stake. Other institutions also initiated positions, while institutional investors collectively own 86.03% of Textron.
• Textron exceeded quarterly expectations, reporting $1.62 EPS versus the $1.55 consensus and $3.83 billion in revenue, up 3% year over year. The company maintained fiscal 2026 EPS guidance of $6.40–$6.60.
• Analyst sentiment remains cautious: Textron has a consensus “Hold” rating and a $102.44 average price target, while the stock recently traded at $79.79. The company also declared a quarterly dividend of $0.02 per share.

Bank of America Corp DE bought a new position in Textron Inc. (NYSE:TXT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 687,627 shares of the aerospace company's stock, valued at approximately $63,076,000. Bank of America Corp DE owned about 0.40% of Textron as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Caisse de depot et placement du Quebec purchased a new stake in shares of Textron in the second quarter worth $36,650,000. Man Group plc bought a new position in Textron in the 2nd quarter worth approximately $32,868,000. Roberts Glore & Co. Inc. IL acquired a new position in Textron during the 2nd quarter valued at $228,000. Polar Asset Management Partners Inc. acquired a new position in shares of Textron during the second quarter valued at about $432,000. Finally, Jupiter Topco LLC bought a new stake in shares of Textron in the 2nd quarter worth approximately $1,194,000. Institutional investors own 86.03% of the company's stock.

Textron Stock Performance

TXT stock opened at $79.79 on Friday. Textron Inc. has a twelve month low of $78.12 and a twelve month high of $101.57. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 0.43. The company has a market cap of $13.72 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.16 and a beta of 0.90. The business's fifty day moving average is $85.61 and its 200-day moving average is $89.18.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The aerospace company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.07. Textron had a return on equity of 14.30% and a net margin of 6.12%.The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period last year, the company earned $1.55 earnings per share. The firm's revenue was up 3.0% compared to the same quarter last year. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Equities research analysts forecast that Textron Inc. will post 6.5 EPS for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 11th. Textron's payout ratio is presently 1.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TXT. TD Cowen dropped their price target on shares of Textron from $115.00 to $105.00 and set a "hold" rating for the company in a research report on Monday, July 13th. Wall Street Zen cut Textron from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. UBS Group reiterated a "neutral" rating and set a $95.00 target price on shares of Textron in a research report on Wednesday, July 29th. Weiss Ratings downgraded shares of Textron from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Finally, Morgan Stanley set a $98.00 target price on shares of Textron in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $102.44.

Textron Company Profile

Textron Inc NYSE: TXT is a diversified industrial company that develops and manufactures aircraft, defense systems, specialized vehicles, and industrial products. Its portfolio includes businesses serving the aviation, defense, aerospace, and commercial sectors, with operations and customers in the United States and international markets.

Textron Aviation produces business jets, turboprop aircraft, and general aviation aircraft under brands including Beechcraft, Cessna, and Hawker. Bell designs and manufactures military and commercial helicopters, tiltrotor aircraft, and related support services.

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.