Victory Capital Management Inc. Lowers Stock Holdings in Textron Inc. $TXT

Key Points

• Victory Capital Management trimmed its Textron stake slightly in the fourth quarter, selling 25,172 shares and still holding 3.98 million shares worth about $346.5 million.
• Textron reported better-than-expected Q1 results, with earnings of $1.45 per share on revenue of $3.70 billion, topping analyst estimates and posting 11.8% year-over-year revenue growth.
• Analyst sentiment remains constructive overall, with a Moderate Buy consensus and a $101.18 price target, while the company also announced a small quarterly dividend of $0.02 per share.

Victory Capital Management Inc. reduced its position in Textron Inc. (NYSE:TXT - Free Report) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,975,225 shares of the aerospace company's stock after selling 25,172 shares during the period. Victory Capital Management Inc. owned about 2.26% of Textron worth $346,520,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TXT. AQR Capital Management LLC boosted its holdings in shares of Textron by 144.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,664,612 shares of the aerospace company's stock valued at $213,942,000 after purchasing an additional 1,573,206 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Textron by 270.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,005,843 shares of the aerospace company's stock valued at $80,759,000 after purchasing an additional 734,478 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Textron in the 3rd quarter valued at $56,255,000. SG Americas Securities LLC boosted its holdings in shares of Textron by 8,087.0% in the 4th quarter. SG Americas Securities LLC now owns 429,492 shares of the aerospace company's stock valued at $37,439,000 after purchasing an additional 424,246 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Textron by 18.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,551,781 shares of the aerospace company's stock valued at $222,455,000 after purchasing an additional 405,314 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Insiders Place Their Bets

In other news, Director Thomas A. Kennedy acquired 10,300 shares of the business's stock in a transaction on Friday, May 1st. The shares were purchased at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the acquisition, the director directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Kerry Clark sold 2,517 shares of the business's stock in a transaction 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 completion of the transaction, the director owned 8,611 shares in the company, valued at $801,597.99. This represents a 22.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.90% of the company's stock.

Textron Stock Performance

NYSE:TXT opened at $92.71 on Friday. The company has a current ratio of 1.84, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.40 and a beta of 0.90. The firm's fifty day simple moving average is $90.94 and its 200 day simple moving average is $91.08. Textron Inc. has a twelve month low of $75.80 and a twelve month high of $101.57.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.15. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.15% and a return on equity of 14.56%. The business's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.28 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts expect that Textron Inc. will post 6.6 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $0.02 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron's payout ratio is currently 1.53%.

Analysts Set New Price Targets

TXT has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of Textron in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $92.00 price target on the stock. Citigroup lifted their price target on shares of Textron from $97.00 to $99.00 and gave the company a "neutral" rating in a report on Thursday, April 2nd. 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. Jefferies Financial Group restated a "buy" rating on shares of Textron in a report on Sunday, May 3rd. Finally, TD Cowen upgraded shares of Textron from a "hold" rating to a "buy" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Textron presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.18.

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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