Cannell & Spears LLC Grows Stock Holdings in Textron Inc. $TXT

Cannell & Spears LLC increased its position in Textron Inc. (NYSE:TXT - Free Report) by 32.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 57,903 shares of the aerospace company's stock after buying an additional 14,266 shares during the period. Cannell & Spears LLC's holdings in Textron were worth $4,977,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TXT. State Street Corp lifted its position in shares of Textron by 2.6% in the fourth quarter. State Street Corp now owns 9,464,324 shares of the aerospace company's stock valued at $825,193,000 after acquiring an additional 244,017 shares in the last quarter. Invesco Ltd. grew its position in shares of Textron by 1.7% during the third quarter. Invesco Ltd. now owns 8,270,901 shares of the aerospace company's stock worth $698,808,000 after purchasing an additional 140,713 shares in the last quarter. Boston Partners grew its position in shares of Textron by 0.9% during the third quarter. Boston Partners now owns 7,257,533 shares of the aerospace company's stock worth $613,327,000 after purchasing an additional 66,747 shares in the last quarter. AQR Capital Management LLC raised its stake in Textron by 51.1% during the 4th quarter. AQR Capital Management LLC now owns 5,357,182 shares of the aerospace company's stock valued at $466,986,000 after purchasing an additional 1,811,787 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Textron by 18.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,551,781 shares of the aerospace company's stock worth $222,455,000 after purchasing an additional 405,314 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Trading Up 2.5%

TXT stock opened at $95.49 on Friday. The firm has a market cap of $16.60 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The firm has a fifty day moving average price of $91.08 and a 200 day moving average price of $92.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.87 and a current ratio of 1.84. Textron Inc. has a fifty-two week low of $75.80 and a fifty-two week high of $101.57.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, beating the consensus estimate 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 $3.69 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business earned $1.28 earnings per share. Textron's quarterly revenue was up 11.8% compared to the same quarter last year. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Sell-side analysts anticipate that Textron Inc. will post 6.6 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were given a $0.02 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron's dividend payout ratio (DPR) is currently 1.53%.

Wall Street Analyst Weigh In

TXT has been the subject of several recent analyst reports. Citigroup upped their price target on Textron from $97.00 to $99.00 and gave the stock a "neutral" rating in a research note on Thursday, April 2nd. TD Cowen reduced their price objective on shares of Textron from $115.00 to $105.00 and set a "hold" rating on the stock in a research report on Monday, July 13th. Morgan Stanley set a $97.00 target price on shares of Textron in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of Textron from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, July 13th. Finally, Wall Street Zen raised shares of Textron from a "hold" rating to a "buy" rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.10.

Insider Activity

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

About Textron

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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