IFM Investors Pty Ltd Raises Stock Holdings in Textron Inc. $TXT

IFM Investors Pty Ltd raised its stake in Textron Inc. (NYSE:TXT - Free Report) by 68.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,782 shares of the aerospace company's stock after buying an additional 15,712 shares during the quarter. IFM Investors Pty Ltd's holdings in Textron were worth $3,396,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wilkerson Advisory Group LLC purchased a new position in shares of Textron during the 4th quarter worth approximately $26,000. Activest Wealth Management raised its position in Textron by 3,255.6% in the fourth quarter. Activest Wealth Management now owns 302 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 293 shares during the period. Elyxium Wealth LLC purchased a new stake in Textron in the fourth quarter valued at approximately $30,000. Strive Financial Group LLC acquired a new position in Textron during the fourth quarter worth $31,000. Finally, Torren Management LLC purchased a new position in shares of Textron during the fourth quarter worth $50,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TXT shares. Citigroup raised their target price on Textron from $97.00 to $99.00 and gave the company a "neutral" rating in a report on Thursday, April 2nd. Weiss Ratings lowered Textron from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, June 26th. Morgan Stanley set a $109.00 price objective on shares of Textron in a report on Monday, May 4th. Jefferies Financial Group reissued a "buy" rating on shares of Textron in a report on Sunday, May 3rd. Finally, TD Cowen upgraded shares of Textron from a "hold" rating to a "buy" rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Textron has an average rating of "Moderate Buy" and a consensus price target of $102.80.

Textron Stock Performance

NYSE:TXT opened at $92.46 on Friday. The firm's fifty day simple moving average is $90.97 and its 200-day simple moving average is $91.77. The company has a quick ratio of 0.87, a current ratio of 1.84 and a debt-to-equity ratio of 0.43. The stock has a market cap of $16.08 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.38 and a beta of 0.90. Textron Inc. has a fifty-two week low of $75.80 and a fifty-two week high of $101.57.

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

Textron Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron's payout ratio is currently 1.53%.

Insider Activity

In related news, Director Thomas A. Kennedy purchased 10,300 shares of the business's stock in a transaction dated Friday, May 1st. The stock was bought at an average cost of $95.98 per share, with a total value of $988,594.00. Following the completion of the acquisition, the director directly owned 20,162 shares in the company, valued at $1,935,148.76. The trade was a 104.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Kerry Clark sold 2,517 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total value of $234,307.53. Following the sale, 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 disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by insiders.

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.

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.