Convergence Investment Partners LLC Invests $1.89 Million in Textron Inc. $TXT

Key Points

• Convergence Investment Partners opened a new position in Textron during the first quarter, buying 21,552 shares valued at about $1.89 million.
• Textron continues to attract institutional interest, with firms like State Street, Invesco, AQR, and Dimensional all holding large stakes; overall, institutions own 86.03% of the company.
• The company has several recent positives, including Pipistrel’s new Voyager training aircraft landing a launch customer for up to 50 planes, Bell Textron delivering its 700th Bell 505 helicopter, and Textron beating quarterly earnings and revenue estimates in its latest report.

Convergence Investment Partners LLC purchased a new position in Textron Inc. (NYSE:TXT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,552 shares of the aerospace company's stock, valued at approximately $1,887,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Textron by 2.6% in the fourth quarter. State Street Corp now owns 9,464,324 shares of the aerospace company's stock worth $825,193,000 after acquiring an additional 244,017 shares in the last quarter. Invesco Ltd. increased its holdings 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 valued at $698,808,000 after acquiring an additional 140,713 shares in the last quarter. Boston Partners raised its position in shares of Textron by 0.9% in the 3rd 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 during the last quarter. AQR Capital Management LLC raised its position in shares of Textron by 51.1% in the 4th quarter. AQR Capital Management LLC now owns 5,357,182 shares of the aerospace company's stock worth $466,986,000 after purchasing an additional 1,811,787 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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. Institutional investors own 86.03% of the company's stock.

Textron News Roundup

Here are the key news stories impacting Textron this week:

• Positive Sentiment: Textron’s Pipistrel unit announced Epic Flight Academy as the launch customer for the new Voyager training aircraft, with a purchase agreement for up to 50 aircraft, signaling demand for a new product line. Article Title
• Positive Sentiment: Bell Textron said it delivered its 700th Bell 505 helicopter, reinforcing the strength of the aircraft platform and steady demand in the rotorcraft business. Article Title
• Positive Sentiment: Textron’s Pipistrel introduced the Voyager training aircraft at AirVenture, expanding its lineup for flight schools and supporting future sales opportunities. Article Title
• Positive Sentiment: Wall Street Zen upgraded Textron’s stock rating, which can help sentiment ahead of earnings. Article Title
• Neutral Sentiment: Textron is expected to announce quarterly earnings on Tuesday, keeping attention on upcoming results and guidance rather than a confirmed new development. Article Title

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings raised shares of Textron from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, July 13th. Wells Fargo & Company initiated coverage on shares of Textron in a research note on Wednesday, April 1st. They issued an "equal weight" rating and a $92.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Textron from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Jefferies Financial Group reissued a "buy" rating on shares of Textron in a research report on Sunday, May 3rd. Finally, Citigroup boosted their price objective on shares of Textron from $97.00 to $99.00 and gave the stock a "neutral" rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Textron currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.10.

Insider Transactions at Textron

In other Textron news, Director Thomas A. Kennedy acquired 10,300 shares of the stock in a transaction dated Friday, May 1st. The shares were purchased at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the purchase, the director directly owned 20,162 shares of the company's stock, valued at approximately $1,935,148.76. This trade represents a 104.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director R Kerry Clark sold 2,517 shares of the firm'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 transaction of $234,307.53. Following the completion of the transaction, the director directly owned 8,611 shares in the company, valued at approximately $801,597.99. The trade was a 22.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company's stock.

Textron Price Performance

Shares of TXT opened at $90.82 on Tuesday. The firm has a fifty day simple moving average of $90.91 and a two-hundred day simple moving average of $91.92. The firm has a market cap of $15.79 billion, a PE ratio of 17.37, a P/E/G ratio of 1.37 and a beta of 0.90. The company has a current ratio of 1.84, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43. Textron Inc. has a 1-year low of $75.80 and a 1-year high of $101.57.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The aerospace company reported $1.45 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 $3.69 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. Textron's 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. On average, equities analysts anticipate that Textron Inc. will post 6.6 EPS for the current year.

Textron Dividend Announcement

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

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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