Textron Inc. $TXT Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Textron Inc. (NYSE:TXT) by 7.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,131,905 shares of the aerospace company’s stock after selling 94,544 shares during the quarter. Bank of New York Mellon Corp’s holdings in Textron were worth $98,668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Management Corp VA increased its holdings in shares of Textron by 1.0% during the 4th quarter. Capital Management Corp VA now owns 12,477 shares of the aerospace company’s stock worth $1,088,000 after buying an additional 120 shares during the last quarter. Root Financial Partners LLC increased its holdings in Textron by 24.5% in the 4th quarter. Root Financial Partners LLC now owns 630 shares of the aerospace company’s stock valued at $55,000 after purchasing an additional 124 shares during the last quarter. Glenmede Investment Management LP increased its holdings in Textron by 1.0% in the 3rd quarter. Glenmede Investment Management LP now owns 14,123 shares of the aerospace company’s stock valued at $1,193,000 after purchasing an additional 142 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Textron by 18.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 998 shares of the aerospace company’s stock valued at $80,000 after purchasing an additional 158 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Textron by 52.2% in the 3rd quarter. Assetmark Inc. now owns 493 shares of the aerospace company’s stock valued at $42,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Textron from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Sanford C. Bernstein lifted their target price on shares of Textron from $94.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, February 19th. Jefferies Financial Group reissued a “buy” rating on shares of Textron in a research report on Sunday, May 3rd. UBS Group raised their price target on shares of Textron from $99.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Morgan Stanley set a $109.00 price target on shares of Textron in a research report 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 assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $101.18.

Insider Buying and Selling at Textron

In other news, Director Thomas A. Kennedy acquired 10,300 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was acquired at an average cost of $95.98 per share, with a total value of $988,594.00. Following the transaction, the director owned 20,162 shares in the company, valued at approximately $1,935,148.76. This trade represents a 104.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R Kerry Clark sold 2,517 shares of Textron 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 sale, the director directly owned 8,611 shares of the company’s stock, valued at approximately $801,597.99. This trade represents a 22.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by insiders.

Textron Stock Performance

Shares of TXT stock opened at $91.44 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.84 and a debt-to-equity ratio of 0.43. Textron Inc. has a 52 week low of $75.75 and a 52 week high of $101.57. The stock has a market capitalization of $15.90 billion, a PE ratio of 17.48, a P/E/G ratio of 1.36 and a beta of 0.91. The firm has a 50 day moving average of $90.52 and a two-hundred day moving average of $90.80.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.30 by $0.15. Textron had a net margin of 6.15% and a return on equity of 14.56%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the company posted $1.28 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. 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 fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, June 12th. Textron’s payout ratio is 1.53%.

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.