Bank of Nova Scotia purchased a new position in Textron Inc. (NYSE:TXT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,293 shares of the aerospace company's stock, valued at approximately $1,678,000.
Other large investors have also added to or reduced their stakes in the company. Wilkerson Advisory Group LLC bought a new stake in shares of Textron during the 4th quarter valued at about $26,000. Activest Wealth Management raised its stake in Textron by 3,255.6% in the fourth quarter. Activest Wealth Management now owns 302 shares of the aerospace company's stock worth $26,000 after buying an additional 293 shares in the last quarter. Cedar Mountain Advisors LLC purchased a new stake in Textron in the first quarter worth about $29,000. Elyxium Wealth LLC purchased a new stake in Textron in the fourth quarter worth about $30,000. Finally, Strive Financial Group LLC bought a new stake in Textron during the 4th quarter valued at approximately $31,000. Institutional investors own 86.03% of the company's stock.
Textron Price Performance
Shares of NYSE TXT opened at $83.26 on Thursday. The company has a 50 day simple moving average of $89.00 and a two-hundred day simple moving average of $91.26. Textron Inc. has a fifty-two week low of $78.12 and a fifty-two week high of $101.57. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.19 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 1.86.
Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations of $3.81 billion. Textron had a return on equity of 14.30% and a net margin of 6.12%.The business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 EPS. 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 Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 11th. Textron's payout ratio is 1.51%.
Analyst Ratings Changes
Several research analysts have recently issued reports on TXT shares. Weiss Ratings raised Textron from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, July 13th. Jefferies Financial Group restated a "buy" rating on shares of Textron in a research report on Sunday, May 3rd. Morgan Stanley set a $98.00 price target on Textron in a research note on Wednesday, July 29th. TD Cowen decreased their price objective on Textron from $115.00 to $105.00 and set a "hold" rating for the company in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. raised their price objective on Textron from $90.00 to $105.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $102.44.
Check Out Our Latest Report on TXT
About Textron
(
Free Report)
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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