OMERS ADMINISTRATION Corp Takes $3.47 Million Position in Textron Inc. $TXT

OMERS ADMINISTRATION Corp bought a new stake in Textron Inc. (NYSE:TXT) in the second quarter, Holdings Channel reports. The institutional investor bought 37,856 shares of the aerospace company’s stock, valued at approximately $3,473,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management boosted 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 buying an additional 293 shares in the last quarter. Wilkerson Advisory Group LLC acquired a new position in shares of Textron in the 4th quarter valued at $26,000. Cedar Mountain Advisors LLC bought a new position in shares of Textron during the 1st quarter worth about $29,000. Elyxium Wealth LLC bought a new position in shares of Textron during the 4th quarter worth about $30,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Textron during the 4th quarter valued at about $31,000. 86.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on TXT. Morgan Stanley set a $98.00 target price on shares of Textron in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Textron from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. lifted their price objective on Textron from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Textron in a research note on Sunday, May 3rd. Finally, TD Cowen dropped their target price on Textron from $115.00 to $105.00 and set a “hold” rating for the company in a report on Monday, July 13th. One investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.44.

Textron Trading Down 0.3%

Shares of Textron stock opened at $81.89 on Wednesday. Textron Inc. has a 12-month low of $78.12 and a 12-month high of $101.57. The stock has a market capitalization of $14.08 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.91. The company has a 50-day simple moving average of $89.19 and a 200 day simple moving average of $91.33. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 0.43.

Textron (NYSE:TXT) last released its quarterly earnings results on Tuesday, July 28th. The aerospace company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.81 billion. Textron had a net margin of 6.12% and a return on equity of 14.30%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Research analysts expect that Textron Inc. will post 6.5 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 11th. Textron’s payout ratio is presently 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.