Legal & General Group Plc bought a new stake in Textron Inc. (NYSE:TXT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 855,023 shares of the aerospace company's stock, valued at approximately $78,431,000. Legal & General Group Plc owned approximately 0.50% of Textron as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Activest Wealth Management lifted its stake in shares of Textron by 3,255.6% in the 4th quarter. Activest Wealth Management now owns 302 shares of the aerospace company's stock worth $26,000 after acquiring an additional 293 shares during the period. Wilkerson Advisory Group LLC acquired a new position in shares of Textron during the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Textron during the first quarter valued at approximately $29,000. Elyxium Wealth LLC bought a new stake in Textron during the fourth quarter worth approximately $30,000. Finally, Strive Financial Group LLC bought a new stake in Textron during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 86.03% of the company's stock.
Wall Street Analysts Forecast Growth
TXT has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of Textron in a research note on Sunday, May 3rd. Weiss Ratings raised Textron from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, July 13th. Morgan Stanley set a $98.00 price objective on Textron in a report on Wednesday, July 29th. Wall Street Zen cut Textron from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, UBS Group reaffirmed a "neutral" rating and set a $95.00 target price on shares of Textron in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Textron presently has an average rating of "Moderate Buy" and a consensus target price of $102.44.
Read Our Latest Report on Textron
Textron Stock Down 1.1%
TXT stock opened at $82.40 on Friday. Textron Inc. has a 12 month low of $78.12 and a 12 month high of $101.57. The firm has a market cap of $14.17 billion, a PE ratio of 15.55, a P/E/G ratio of 1.21 and a beta of 0.91. The firm has a 50 day simple moving average of $88.86 and a 200 day simple moving average of $91.17. 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 (NYSE:TXT - Get Free Report) last issued its earnings results on Tuesday, July 28th. The aerospace company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.07. The firm had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.81 billion. Textron had a net margin of 6.12% and a return on equity of 14.30%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Equities research analysts forecast that Textron Inc. will post 6.5 earnings per share for the current fiscal year.
Textron Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron's dividend payout ratio (DPR) is currently 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.
Featured Articles
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.
