CIBC Asset Management Inc Has $3.67 Million Stock Holdings in Textron Inc. $TXT

CIBC Asset Management Inc grew its position in Textron Inc. (NYSE:TXT - Free Report) by 63.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,086 shares of the aerospace company's stock after purchasing an additional 16,376 shares during the period. CIBC Asset Management Inc's holdings in Textron were worth $3,669,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Textron by 2.4% in the 3rd quarter. State Street Corp now owns 9,220,307 shares of the aerospace company's stock valued at $779,205,000 after purchasing an additional 212,857 shares in the last quarter. Invesco Ltd. lifted its position in 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 buying an additional 140,713 shares in the last quarter. Boston Partners lifted its position in 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 buying an additional 66,747 shares in the last quarter. AQR Capital Management LLC lifted its position in 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 buying an additional 880,783 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in 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 buying an additional 138,128 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Insider Buying and Selling

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

Textron Stock Performance

Shares of NYSE:TXT opened at $91.21 on Monday. The company has a market capitalization of $15.86 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.36 and a beta of 0.91. The firm's 50 day simple moving average is $90.47 and its 200 day simple moving average is $90.72. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 0.87. Textron Inc. has a fifty-two week low of $75.04 and a fifty-two week high of $101.57.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.15. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a net margin of 6.15% and a return on equity of 14.56%. Textron's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company posted $1.28 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, sell-side analysts forecast that Textron Inc. will post 6.6 earnings per share 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 given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, June 12th. Textron's dividend payout ratio (DPR) is currently 1.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXT. TD Cowen upgraded shares of Textron from a "hold" rating to a "buy" rating in a research report on Thursday, April 30th. Jefferies Financial Group reiterated a "buy" rating on shares of Textron in a research report on Sunday, May 3rd. JPMorgan Chase & Co. upped their price target on shares of Textron from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Citigroup upped their price target on shares of Textron from $97.00 to $99.00 and gave the stock a "neutral" rating in a research report on Thursday, April 2nd. Finally, UBS Group upped their price target on shares of Textron from $99.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. One 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $101.18.

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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