Bank of New York Mellon Corp Lowers Stake in Textron Inc. $TXT

Bank of New York Mellon Corp reduced its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,131,905 shares of the aerospace company's stock after selling 94,544 shares during the quarter. Bank of New York Mellon Corp owned 0.64% of Textron worth $98,668,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in shares of Textron by 2.4% during the 3rd quarter. State Street Corp now owns 9,220,307 shares of the aerospace company's stock worth $779,205,000 after acquiring an additional 212,857 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Textron by 1.7% during the 3rd quarter. Invesco Ltd. now owns 8,270,901 shares of the aerospace company's stock worth $698,808,000 after acquiring an additional 140,713 shares in the last quarter. Boston Partners boosted its stake in shares of Textron by 0.9% during the 3rd quarter. Boston Partners now owns 7,257,533 shares of the aerospace company's stock worth $613,327,000 after acquiring an additional 66,747 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Textron by 33.1% during the 3rd quarter. AQR Capital Management LLC now owns 3,545,395 shares of the aerospace company's stock worth $298,239,000 after acquiring an additional 880,783 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Textron by 6.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,146,467 shares of the aerospace company's stock worth $181,348,000 after acquiring an additional 138,128 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXT has been the topic of several recent analyst reports. Jefferies Financial Group reissued a "buy" rating on shares of Textron in a research note on Sunday, May 3rd. Sanford C. Bernstein raised their price target on shares of Textron from $94.00 to $108.00 and gave the company a "market perform" rating in a research note on Thursday, February 19th. Weiss Ratings lowered shares of Textron from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 20th. Citigroup raised their price target on shares of Textron from $97.00 to $99.00 and gave the company a "neutral" rating in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company assumed coverage on shares of Textron in a research note on Wednesday, April 1st. They issued an "equal weight" rating and a $92.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $101.18.

Textron Trading Up 0.4%

TXT opened at $91.44 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 0.87. The company's 50 day simple moving average is $90.52 and its two-hundred day simple moving average is $90.80. Textron Inc. has a 1-year low of $75.75 and a 1-year high of $101.57. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.36 and a beta of 0.91.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.15. Textron had a net margin of 6.15% and a return on equity of 14.56%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the company posted $1.28 EPS. The business's revenue was up 11.8% on a year-over-year basis. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Analysts expect that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Dividend Announcement

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

Insider Buying and Selling

In other Textron news, Director R Kerry Clark sold 2,517 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total value of $234,307.53. Following the transaction, the director directly owned 8,611 shares of the company's stock, valued at $801,597.99. This trade represents a 22.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas A. Kennedy purchased 10,300 shares of the business's stock in a transaction dated Friday, May 1st. The shares were purchased at an average price of $95.98 per share, with a total value of $988,594.00. Following the acquisition, the director directly owned 20,162 shares in the company, valued at approximately $1,935,148.76. The trade was a 104.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.90% 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.

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.