Corient Private Wealth LP purchased a new position in Textron Inc. (NYSE:TXT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 112,598 shares of the aerospace company's stock, valued at approximately $10,329,000. Corient Private Wealth LP owned 0.07% of Textron at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Bank of America Corp DE bought a new position in Textron during the second quarter valued at $63,076,000. Caisse de depot et placement du Quebec bought a new stake in shares of Textron in the second quarter valued at $36,650,000. Man Group plc purchased a new position in shares of Textron during the 2nd quarter valued at $32,868,000. Roberts Glore & Co. Inc. IL purchased a new position in shares of Textron during the 2nd quarter valued at $228,000. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Textron during the 2nd quarter worth $432,000. Hedge funds and other institutional investors own 86.03% of the company's stock.
Textron Price Performance
Shares of NYSE TXT opened at $83.19 on Friday. 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 Inc. has a fifty-two week low of $78.12 and a fifty-two week high of $101.57. The stock has a market cap of $14.31 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. The stock has a fifty day moving average of $88.74 and a 200-day moving average of $91.11.
Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The aerospace company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.07. Textron had a return on equity of 14.30% and a net margin of 6.12%.The business had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $3.81 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. The firm's quarterly revenue was up 3.0% on a year-over-year basis. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Equities research analysts anticipate that Textron Inc. will post 6.5 earnings per share for the current year.
Textron Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th 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, September 11th. Textron's dividend payout ratio (DPR) is 1.51%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on TXT shares. Wall Street Zen lowered Textron from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. JPMorgan Chase & Co. upped their price objective 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 reiterated a "buy" rating on shares of Textron in a research report on Sunday, May 3rd. UBS Group reiterated a "neutral" rating and issued a $95.00 target price on shares of Textron in a research note on Wednesday, July 29th. Finally, TD Cowen lowered their price target 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $102.44.
Check Out Our Latest Stock Analysis on TXT
Textron Company Profile
(
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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