Cerity Partners LLC Boosts Stake in Textron Inc. $TXT

Key Points

• Cerity Partners LLC boosted its Textron stake by 283.5% in the fourth quarter, ending with 370,160 shares worth about $32.3 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 86.03% of Textron stock; several other funds also significantly increased or initiated positions.
• Textron beat quarterly expectations, reporting EPS of $1.45 on revenue of $3.70 billion, while analysts currently hold a consensus "Hold" rating with a $101.18 average price target.

Cerity Partners LLC increased its position in Textron Inc. (NYSE:TXT - Free Report) by 283.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 370,160 shares of the aerospace company's stock after purchasing an additional 273,643 shares during the period. Cerity Partners LLC owned 0.21% of Textron worth $32,267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TXT. AQR Capital Management LLC increased its position in Textron by 144.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,664,612 shares of the aerospace company's stock valued at $213,942,000 after acquiring an additional 1,573,206 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Textron by 270.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,005,843 shares of the aerospace company's stock valued at $80,759,000 after acquiring an additional 734,478 shares during the period. Balyasny Asset Management L.P. acquired a new position in Textron in the 3rd quarter valued at about $56,255,000. SG Americas Securities LLC increased its position in Textron by 8,087.0% in the 4th quarter. SG Americas Securities LLC now owns 429,492 shares of the aerospace company's stock valued at $37,439,000 after acquiring an additional 424,246 shares during the period. Finally, Millennium Management LLC increased its position in Textron by 56.2% in the 3rd quarter. Millennium Management LLC now owns 926,237 shares of the aerospace company's stock valued at $78,258,000 after acquiring an additional 333,421 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley set a $109.00 price target on Textron in a research report on Monday, May 4th. UBS Group boosted their price target on Textron from $99.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Sanford C. Bernstein boosted their price target on Textron from $94.00 to $108.00 and gave the company a "market perform" rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. boosted 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, Citigroup boosted their price target on Textron from $97.00 to $99.00 and gave the company a "neutral" rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $101.18.

Textron Stock Performance

NYSE TXT opened at $91.47 on Thursday. The company has a current ratio of 1.84, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43. The business's 50 day moving average is $90.74 and its two-hundred day moving average is $90.98. Textron Inc. has a 12-month low of $75.75 and a 12-month high of $101.57. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.39 and a beta of 0.90.

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

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a $0.02 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron's dividend payout ratio is currently 1.53%.

Insider Buying and Selling

In other news, Director Thomas A. Kennedy purchased 10,300 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $95.98 per share, for a total transaction 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Kerry Clark sold 2,517 shares of the company'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 completion of the sale, the director owned 8,611 shares in the company, valued at approximately $801,597.99. This represents a 22.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.90% of the company's stock.

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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