Hsbc Holdings PLC acquired a new position in Textron Inc. (NYSE:TXT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 625,781 shares of the aerospace company's stock, valued at approximately $57,515,000. Hsbc Holdings PLC owned about 0.36% of Textron as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in TXT. BlackRock Inc. purchased a new position in shares of Textron in the second quarter worth about $1,434,125,000. AQR Capital Management LLC lifted its stake in shares of Textron by 51.1% during the 4th quarter. AQR Capital Management LLC now owns 5,357,182 shares of the aerospace company's stock valued at $466,986,000 after buying an additional 1,811,787 shares in the last quarter. Primecap Management Co. CA purchased a new stake in shares of Textron during the 2nd quarter valued at approximately $111,723,000. Bank of New York Mellon Corp bought a new position in Textron in the 2nd quarter worth approximately $105,946,000. Finally, Great Lakes Advisors LLC purchased a new position in Textron in the 2nd quarter valued at approximately $81,224,000. 86.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Textron from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, July 13th. Wall Street Zen cut Textron from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. UBS Group reiterated a "neutral" rating and set a $95.00 price objective on shares of Textron in a research note on Wednesday, July 29th. Jefferies Financial Group reissued a "buy" rating on shares of Textron in a report on Sunday, May 3rd. Finally, Morgan Stanley set a $98.00 target price on Textron in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Textron has an average rating of "Moderate Buy" and a consensus price target of $102.44.
Read Our Latest Report on Textron
Textron Stock Performance
NYSE TXT opened at $83.26 on Thursday. The company's 50 day simple moving average is $89.00 and its two-hundred day simple moving average is $91.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 0.85. Textron Inc. has a 1 year low of $78.12 and a 1 year high of $101.57. The stock has a market capitalization of $14.32 billion, a PE ratio of 15.71, a P/E/G ratio of 1.19 and a beta of 0.91.
Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The aerospace company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.07. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.81 billion. Textron had a net margin of 6.12% and a return on equity of 14.30%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Analysts predict that Textron Inc. will post 6.5 earnings per share for the current fiscal year.
Textron Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, September 11th. Textron's payout ratio is presently 1.51%.
Textron 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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Textron, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Textron wasn't on the list.
While Textron currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
