Primecap Management Co. CA Purchases Shares of 1,217,960 Textron Inc. $TXT

Primecap Management Co. CA purchased a new position in Textron Inc. (NYSE:TXT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,217,960 shares of the aerospace company's stock, valued at approximately $111,723,000. Primecap Management Co. CA owned about 0.71% of Textron as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TXT. Canada Pension Plan Investment Board purchased a new stake in shares of Textron during the second quarter worth about $23,793,000. Legal & General Group Plc purchased a new position in Textron during the 2nd quarter valued at about $78,431,000. The Manufacturers Life Insurance Company purchased a new position in Textron during the 2nd quarter valued at about $8,045,000. Manning & Napier Advisors LLC bought a new position in Textron during the 2nd quarter valued at approximately $121,000. Finally, Cibc World Market Inc. purchased a new stake in Textron in the 2nd quarter worth approximately $6,215,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Textron from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of Textron from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, July 13th. TD Cowen dropped their target price on shares of Textron from $115.00 to $105.00 and set a "hold" rating for the company in a research report on Monday, July 13th. Wall Street Zen lowered shares of Textron from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, UBS Group reiterated a "neutral" rating and set a $95.00 price target on shares of Textron in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $102.44.

Textron Stock Down 0.3%

NYSE:TXT opened at $81.89 on Wednesday. The firm's 50-day moving average price is $89.19 and its 200-day moving average price is $91.33. The company has a market capitalization of $14.08 billion, a PE ratio of 15.45, a P/E/G ratio of 1.19 and a beta of 0.91. 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.

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 business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.81 billion. Textron had a return on equity of 14.30% and a net margin of 6.12%.Textron's revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. On average, equities analysts predict that Textron Inc. will post 6.5 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $0.02 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron's dividend payout ratio (DPR) is currently 1.51%.

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.

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