T. Rowe Price Investment Management Inc. Reduces Holdings in Textron Inc. $TXT

T. Rowe Price Investment Management Inc. lowered its stake in shares of Textron Inc. (NYSE:TXT) by 13.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,128,233 shares of the aerospace company’s stock after selling 1,082,127 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Textron were worth $621,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Textron by 13.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,522 shares of the aerospace company’s stock worth $1,049,000 after purchasing an additional 1,709 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Textron by 6.3% in the first quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company’s stock worth $1,546,000 after buying an additional 1,265 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Textron by 18.0% during the first quarter. Focus Partners Wealth now owns 4,814 shares of the aerospace company’s stock worth $348,000 after buying an additional 735 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Textron during the second quarter worth $453,000. Finally, Baird Financial Group Inc. grew its holdings in shares of Textron by 15.3% during the second quarter. Baird Financial Group Inc. now owns 19,171 shares of the aerospace company’s stock valued at $1,539,000 after buying an additional 2,548 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Textron

In related news, Director R Kerry Clark sold 2,517 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total transaction of $234,307.53. Following the sale, the director directly owned 8,611 shares of the company’s stock, valued at approximately $801,597.99. This represents a 22.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas A. Kennedy acquired 10,300 shares of the business’s stock in a transaction on Friday, May 1st. The stock was purchased at an average cost of $95.98 per share, with a total value 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 disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

Textron Price Performance

NYSE:TXT opened at $89.25 on Friday. The firm’s fifty day moving average is $91.29 and its two-hundred day moving average is $91.39. The firm has a market cap of $15.52 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.87 and a current ratio of 1.84. Textron Inc. has a one year low of $75.80 and a one year high of $101.57.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 30th. The aerospace company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.15. Textron had a return on equity of 14.56% and a net margin of 6.15%.The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The company’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. Research analysts expect that Textron Inc. will post 6.6 EPS for the current year.

Textron Dividend Announcement

The business also recently declared 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 of this dividend 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 presently 1.53%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup upped their target price on Textron from $97.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Sanford C. Bernstein boosted their price target on Textron from $94.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, February 19th. Weiss Ratings raised Textron from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Morgan Stanley set a $109.00 price objective on Textron in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their target price on Textron from $90.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.