Bank of America Corp DE Trims Stock Holdings in Textron Inc. $TXT

Key Points

• Bank of America reduced its Textron stake by 12.1% in the first quarter, selling 94,601 shares and retaining 687,672 shares valued at approximately $60.2 million. Institutional investors collectively own 86.03% of Textron.
• Textron reported quarterly earnings of $1.62 per share, beating estimates of $1.55, while revenue rose 3.0% year over year to $3.83 billion. The company reaffirmed fiscal 2026 EPS guidance of $6.40 to $6.60.
• Shares opened at $89.09, below the analyst consensus price target of $102.44; analysts maintain a consensus “Moderate Buy” rating. Textron also declared a quarterly dividend of $0.02 per share, yielding 0.1%.

Bank of America Corp DE decreased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 12.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 687,672 shares of the aerospace company's stock after selling 94,601 shares during the quarter. Bank of America Corp DE owned 0.40% of Textron worth $60,213,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Textron by 13.3% during 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 in the last quarter. Empowered Funds LLC lifted its position in shares of Textron by 6.3% during the 1st quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company's stock valued at $1,546,000 after buying an additional 1,265 shares in the last quarter. Focus Partners Wealth lifted 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 valued at $348,000 after buying an additional 735 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Textron in the 2nd quarter valued at $453,000. Finally, Baird Financial Group Inc. grew its stake in Textron by 15.3% in the 2nd quarter. Baird Financial Group Inc. now owns 19,171 shares of the aerospace company's stock valued at $1,539,000 after acquiring an additional 2,548 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Down 0.4%

TXT opened at $89.09 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 0.85. The company's 50 day simple moving average is $90.56 and its two-hundred day simple moving average is $91.74. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 1.30 and a beta of 0.91. Textron Inc. has a 1-year low of $77.12 and a 1-year high of $101.57.

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

Textron Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Textron from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, May 4th. TD Cowen reduced 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 lowered shares of Textron from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Morgan Stanley set a $98.00 price objective on Textron in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Textron in a research note on Sunday, May 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.44.

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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