Textron Inc. $TXT Shares Acquired by ING Groep NV

Key Points

• ING Groep NV sharply increased its Textron stake by 175.1% in the fourth quarter, ending with 63,374 shares valued at about $5.5 million.
• Textron reported better-than-expected quarterly results, with EPS of $1.45 versus the $1.30 consensus and revenue of $3.70 billion versus expectations of $3.50 billion.
• The company also announced a quarterly dividend of $0.02 per share, while analysts currently rate the stock a consensus "Hold" with an average target price of $101.18.

ING Groep NV lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 175.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,374 shares of the aerospace company's stock after buying an additional 40,336 shares during the quarter. ING Groep NV's holdings in Textron were worth $5,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in TXT. Activest Wealth Management lifted its stake in Textron by 3,255.6% during the fourth quarter. Activest Wealth Management now owns 302 shares of the aerospace company's stock worth $26,000 after purchasing an additional 293 shares during the last quarter. Elyxium Wealth LLC bought a new position in Textron during the fourth quarter worth $30,000. Accredited Wealth Management LLC lifted its stake in Textron by 804.0% during the third quarter. Accredited Wealth Management LLC now owns 452 shares of the aerospace company's stock worth $38,000 after purchasing an additional 402 shares during the last quarter. Assetmark Inc. lifted its stake in Textron by 52.2% during the third quarter. Assetmark Inc. now owns 493 shares of the aerospace company's stock worth $42,000 after purchasing an additional 169 shares during the last quarter. Finally, Optiver Holding B.V. bought a new position in Textron during the third quarter worth $45,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Insiders Place Their Bets

In related news, Director Thomas A. Kennedy bought 10,300 shares of the business's stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $95.98 per share, for a total transaction of $988,594.00. Following the completion of the purchase, the director owned 20,162 shares of the company's stock, valued at $1,935,148.76. This represents a 104.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Kerry Clark sold 2,517 shares of the firm's 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 completion of the sale, the director owned 8,611 shares in the company, 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 Stock Performance

TXT stock opened at $91.44 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.87 and a current ratio of 1.84. The stock has a market capitalization of $15.90 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.36 and a beta of 0.91. Textron Inc. has a 1 year low of $75.75 and a 1 year high of $101.57. The stock's fifty day moving average is $90.52 and its two-hundred day moving average is $90.80.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results 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 company had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.50 billion. Textron had a return on equity of 14.56% and a net margin of 6.15%.The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $1.28 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. On average, research analysts predict that Textron Inc. will post 6.6 EPS for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $0.02 dividend. 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%.

Analyst Ratings Changes

Several brokerages recently issued reports on TXT. Wells Fargo & Company began coverage on Textron in a research note on Wednesday, April 1st. They set an "equal weight" rating and a $92.00 price objective on the stock. Weiss Ratings cut Textron from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. raised their price objective on Textron from $90.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Morgan Stanley set a $109.00 price objective on Textron in a research note on Monday, May 4th. Finally, UBS Group raised their price objective on Textron from $99.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $101.18.

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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