Jefferies Financial Group Inc. Purchases Shares of 212,469 Textron Inc. $TXT

Key Points

• Jefferies Financial Group disclosed a new fourth-quarter stake in Textron, buying 212,469 shares valued at about $18.5 million.
• Textron reported better-than-expected quarterly results, with EPS of $1.45 versus estimates of $1.30 and revenue of $3.70 billion versus $3.50 billion expected, while revenue rose 11.8% year over year.
• Wall Street sentiment remains cautious overall: the stock has an average Hold rating and a consensus price target of about $101.18, even as some firms recently raised targets and one director bought shares.

Jefferies Financial Group Inc. purchased a new stake in Textron Inc. (NYSE:TXT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 212,469 shares of the aerospace company's stock, valued at approximately $18,521,000. Jefferies Financial Group Inc. owned 0.12% of Textron at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in shares of Textron by 10.3% in the third quarter. Envestnet Asset Management Inc. now owns 166,532 shares of the aerospace company's stock valued at $14,070,000 after purchasing an additional 15,550 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Textron in the fourth quarter valued at approximately $1,988,000. National Pension Service increased its stake in shares of Textron by 28.8% in the third quarter. National Pension Service now owns 83,955 shares of the aerospace company's stock valued at $7,093,000 after purchasing an additional 18,782 shares during the period. Inceptionr LLC acquired a new stake in shares of Textron in the third quarter valued at approximately $905,000. Finally, Perbak Capital Partners LLP acquired a new stake in shares of Textron in the third quarter valued at approximately $1,329,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TXT. JPMorgan Chase & Co. raised their price target on shares of Textron from $90.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Morgan Stanley set a $109.00 price target on shares of Textron in a research note on Monday, May 4th. Weiss Ratings lowered shares of Textron from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Citigroup raised their price objective on shares of Textron from $97.00 to $99.00 and gave the company a "neutral" rating in a research note on Thursday, April 2nd. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Textron in a research note on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $101.18.

Insider Buying and Selling

In other Textron news, Director Thomas A. Kennedy bought 10,300 shares of Textron stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $95.98 per share, for a total transaction of $988,594.00. Following the completion of the acquisition, the director owned 20,162 shares of the company's stock, valued at approximately $1,935,148.76. This represents a 104.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Kerry Clark sold 2,517 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $93.09, for a total transaction of $234,307.53. Following the sale, the director 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 SEC filing for this sale provides additional information. Company insiders own 1.90% of the company's stock.

Textron Price Performance

NYSE TXT opened at $91.88 on Friday. Textron Inc. has a 12 month low of $72.00 and a 12 month 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 firm has a market capitalization of $15.98 billion, a PE ratio of 17.57, a P/E/G ratio of 1.37 and a beta of 0.93. The company's 50 day simple moving average is $90.20 and its 200 day simple moving average is $89.92.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, beating 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 business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business earned $1.28 earnings per share. The business's revenue for the quarter was up 11.8% on a year-over-year basis. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts forecast that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Announces Dividend

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

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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