Geode Capital Management LLC Lowers Stock Holdings in Textron Inc. $TXT

Key Points

• Geode Capital Management slightly reduced its Textron stake by 0.5% in the fourth quarter, though it still held 4.56 million shares worth about $396.1 million. Institutional investors overall remain heavily involved, owning 86.03% of the company.
• Textron received a mixed-but-improving outlook from Wall Street: TD Cowen upgraded the stock to buy, while the overall analyst consensus remains Hold with an average price target of $101.18.
• The company posted stronger-than-expected quarterly results, with EPS of $1.45 and revenue of $3.70 billion, both above estimates. Textron also declared a quarterly dividend of $0.02 per share, payable July 1.

Geode Capital Management LLC trimmed its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,562,063 shares of the aerospace company's stock after selling 22,977 shares during the period. Geode Capital Management LLC owned approximately 2.59% of Textron worth $396,133,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Integrity Alliance LLC. purchased a new stake in shares of Textron during the fourth quarter valued at approximately $546,000. AlphaQuest LLC grew its holdings in shares of Textron by 154.8% during the fourth quarter. AlphaQuest LLC now owns 37,364 shares of the aerospace company's stock valued at $3,257,000 after buying an additional 22,702 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Textron by 23.3% during the fourth quarter. Bleakley Financial Group LLC now owns 14,207 shares of the aerospace company's stock valued at $1,238,000 after buying an additional 2,687 shares during the last quarter. Themes Management Co LLC purchased a new stake in shares of Textron during the fourth quarter valued at approximately $465,000. Finally, Allstate Corp grew its holdings in shares of Textron by 94.4% during the fourth quarter. Allstate Corp now owns 10,626 shares of the aerospace company's stock valued at $926,000 after buying an additional 5,160 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TXT shares. TD Cowen upgraded shares of Textron from a "hold" rating to a "buy" rating in a report on Thursday, April 30th. 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. Morgan Stanley set a $109.00 price target on shares of Textron in a report on Monday, May 4th. Sanford C. Bernstein increased their price target on shares of Textron from $94.00 to $108.00 and gave the company a "market perform" rating in a report on Thursday, February 19th. Finally, Wells Fargo & Company started coverage on shares of Textron in a report on Wednesday, April 1st. They set an "equal weight" rating and a $92.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $101.18.

Insider Buying and Selling at Textron

In other news, Director R Kerry Clark sold 2,517 shares of the firm's stock in a transaction 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 sale, the director directly owned 8,611 shares in the company, valued at $801,597.99. This trade represents a 22.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas A. Kennedy acquired 10,300 shares of the firm's 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 completion of the transaction, the director directly 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 SEC filing for this purchase provides additional information. Company insiders own 1.90% of the company's stock.

Textron Trading Up 0.1%

Shares of Textron stock opened at $91.86 on Monday. The company's fifty day simple moving average is $90.32 and its 200-day simple moving average is $90.38. The stock has a market capitalization of $15.97 billion, a PE ratio of 17.56, a P/E/G ratio of 1.37 and a beta of 0.91. Textron Inc. has a 1-year low of $72.76 and a 1-year 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.

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

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend 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%.

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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