CIBC Asset Management Inc Acquires 16,376 Shares of Textron Inc. $TXT

CIBC Asset Management Inc increased its holdings in shares of Textron Inc. (NYSE:TXT) by 63.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,086 shares of the aerospace company’s stock after purchasing an additional 16,376 shares during the quarter. CIBC Asset Management Inc’s holdings in Textron were worth $3,669,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Activest Wealth Management increased its stake in Textron by 3,255.6% during the 4th quarter. Activest Wealth Management now owns 302 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 293 shares in the last quarter. Elyxium Wealth LLC bought a new stake in Textron during the 4th quarter worth approximately $30,000. Accredited Wealth Management LLC increased its stake in Textron by 804.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 452 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 402 shares in the last quarter. Assetmark Inc. increased its stake in Textron by 52.2% during the 3rd quarter. Assetmark Inc. now owns 493 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 169 shares in the last quarter. Finally, Optiver Holding B.V. bought a new stake in Textron during the 3rd quarter worth approximately $45,000. 86.03% of the stock is owned by institutional investors.

Textron Trading Up 0.1%

NYSE TXT opened at $91.21 on Monday. The company has a market cap of $15.86 billion, a PE ratio of 17.44, a PEG ratio of 1.36 and a beta of 0.91. The company has a current ratio of 1.84, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43. Textron Inc. has a 12 month low of $75.04 and a 12 month high of $101.57. The stock has a 50 day moving average of $90.47 and a 200-day moving average of $90.72.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 $3.70 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The firm’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. On average, equities research analysts anticipate that Textron Inc. will post 6.6 EPS 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 given a dividend of $0.02 per share. The ex-dividend date is Friday, June 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is presently 1.53%.

Insiders Place Their Bets

In related news, Director R Kerry Clark sold 2,517 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $93.09, for a total value of $234,307.53. Following the transaction, the director owned 8,611 shares in the company, valued at approximately $801,597.99. This trade represents a 22.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas A. Kennedy purchased 10,300 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the transaction, the director directly owned 20,162 shares of the company’s stock, valued at $1,935,148.76. This trade represents a 104.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on TXT. UBS Group upped their price target on Textron from $99.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Sanford C. Bernstein upped their price target on Textron from $94.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. upped their price target on Textron from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Citigroup upped their price target on Textron from $97.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Finally, Morgan Stanley set a $109.00 price target on Textron in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Textron currently has an average rating of “Hold” 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.