Bank of New York Mellon Corp Makes New Investment in Textron Inc. $TXT

Bank of New York Mellon Corp bought a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,154,978 shares of the aerospace company's stock, valued at approximately $105,946,000. Bank of New York Mellon Corp owned about 0.67% of Textron as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of Textron by 22.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,191,811 shares of the aerospace company's stock worth $103,890,000 after purchasing an additional 218,201 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Textron by 10.7% in the fourth quarter. New York State Teachers Retirement System now owns 156,485 shares of the aerospace company's stock worth $13,641,000 after buying an additional 15,159 shares during the period. National Pension Service raised its holdings in Textron by 17.5% during the 4th quarter. National Pension Service now owns 98,656 shares of the aerospace company's stock valued at $8,600,000 after buying an additional 14,701 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Textron during the 4th quarter valued at $9,544,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Textron during the 4th quarter valued at $18,521,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on TXT. Wall Street Zen cut shares of Textron from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Textron from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, July 13th. TD Cowen reduced their price target on Textron from $115.00 to $105.00 and set a "hold" rating on the stock in a report on Monday, July 13th. JPMorgan Chase & Co. upped their price target on Textron from $90.00 to $105.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Finally, UBS Group reiterated a "neutral" rating and issued a $95.00 price objective on shares of Textron in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.44.

Textron Price Performance

Shares of NYSE TXT opened at $82.17 on Tuesday. Textron Inc. has a 1 year low of $78.12 and a 1 year high of $101.57. 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 moving average is $89.42 and its 200 day moving average is $91.39. The stock has a market capitalization of $14.13 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.20 and a beta of 0.91.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The aerospace company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.55 by $0.07. Textron had a net margin of 6.12% and a return on equity of 14.30%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period last year, the business posted $1.55 earnings per share. Textron's quarterly 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. On average, sell-side analysts expect that Textron Inc. will post 6.5 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th 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 is Friday, September 11th. Textron's payout ratio is 1.51%.

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.

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