Fifth Third Bancorp Acquires 12,696 Shares of Textron Inc. $TXT

Fifth Third Bancorp boosted its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 175.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 19,913 shares of the aerospace company's stock after acquiring an additional 12,696 shares during the period. Fifth Third Bancorp's holdings in Textron were worth $1,744,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in TXT. AQR Capital Management LLC grew its stake in shares of Textron by 51.1% during the fourth 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 period. Adage Capital Partners GP L.L.C. lifted its stake in Textron by 270.7% in the second 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 buying an additional 734,478 shares during the period. Balyasny Asset Management L.P. bought a new position in Textron during the third quarter worth about $56,255,000. SG Americas Securities LLC boosted its holdings in Textron by 8,087.0% during the fourth quarter. SG Americas Securities LLC now owns 429,492 shares of the aerospace company's stock worth $37,439,000 after buying an additional 424,246 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Textron by 18.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,551,781 shares of the aerospace company's stock worth $222,455,000 after buying an additional 405,314 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in 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 research report on Monday, May 4th. Morgan Stanley set a $97.00 price objective on shares of Textron in a report on Wednesday, July 15th. Jefferies Financial Group reiterated a "buy" rating on shares of Textron in a report on Sunday, May 3rd. Wall Street Zen raised shares of Textron from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Wells Fargo & Company initiated coverage on shares of Textron in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $92.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.10.

Textron Trading Up 1.3%

NYSE:TXT opened at $91.74 on Thursday. Textron Inc. has a fifty-two week low of $75.80 and a fifty-two week high of $101.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 0.87. The stock has a market capitalization of $15.95 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. The business's 50-day simple moving average is $90.91 and its 200-day simple moving average is $91.98.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The aerospace company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.15. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 14.56% and a net margin of 6.15%.Textron's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Sell-side analysts expect that Textron Inc. will post 6.6 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Thomas A. Kennedy bought 10,300 shares of the stock in a transaction on Friday, May 1st. The stock was purchased at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the acquisition, the director owned 20,162 shares in the company, valued at approximately $1,935,148.76. This trade represents a 104.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director R Kerry Clark sold 2,517 shares of Textron stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total value of $234,307.53. Following the completion of the sale, the director directly owned 8,611 shares in the company, valued at $801,597.99. This represents a 22.62% decrease in their position. 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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