International Assets Investment Management LLC Invests $4.40 Million in Textron Inc. $TXT

Key Points

• International Assets Investment Management opened a new position in Textron during the first quarter, buying 50,242 shares worth about $4.4 million.
• Textron has drawn continued interest from other institutions, while analysts remain broadly constructive; the stock carries a Moderate Buy consensus with an average price target of $102.80.
• The company posted better-than-expected quarterly results, with EPS of $1.45 on revenue of $3.69 billion, and its shares recently traded at $90.93 after a modest gain.

International Assets Investment Management LLC acquired a new stake in Textron Inc. (NYSE:TXT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 50,242 shares of the aerospace company's stock, valued at approximately $4,399,000.

Several other institutional investors have also modified their holdings of the stock. Carnegie Investment Counsel grew its position in Textron by 21.3% in the first quarter. Carnegie Investment Counsel now owns 4,483 shares of the aerospace company's stock worth $393,000 after acquiring an additional 787 shares during the period. 180 Wealth Advisors LLC boosted its holdings in shares of Textron by 88.7% in the 1st quarter. 180 Wealth Advisors LLC now owns 5,875 shares of the aerospace company's stock valued at $514,000 after buying an additional 2,762 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in Textron by 9.8% during the 1st quarter. Citizens Financial Group Inc. RI now owns 14,818 shares of the aerospace company's stock worth $1,298,000 after purchasing an additional 1,320 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Textron by 175.9% in the 1st quarter. Fifth Third Bancorp now owns 19,913 shares of the aerospace company's stock worth $1,744,000 after acquiring an additional 12,696 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new stake in shares of Textron in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TXT shares. UBS Group upped their price objective on shares of Textron from $99.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their target price on Textron from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Wells Fargo & Company assumed 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. Morgan Stanley set a $109.00 target price on shares of Textron in a research report on Monday, May 4th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Textron in a research note on Sunday, May 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Textron has a consensus rating of "Moderate Buy" and a consensus target price of $102.80.

Insiders Place Their Bets

In other Textron news, Director Thomas A. Kennedy bought 10,300 shares of Textron 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 approximately $1,935,148.76. The trade was a 104.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director R Kerry Clark sold 2,517 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $93.09, for a total value of $234,307.53. Following the completion of the transaction, the director directly owned 8,611 shares of the company's stock, valued at $801,597.99. The trade was a 22.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by company insiders.

Textron Stock Performance

NYSE TXT traded up $0.50 on Friday, hitting $90.93. 607,661 shares of the stock were exchanged, compared to its average volume of 1,555,076. Textron Inc. has a 52 week low of $75.80 and a 52 week high of $101.57. The business's fifty day moving average is $91.21 and its 200 day moving average is $91.89. 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 company has a market capitalization of $15.81 billion, a PE ratio of 17.39, a P/E/G ratio of 1.36 and a beta of 0.90.

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

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were issued 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 was 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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