Geode Capital Management LLC Sells 22,977 Shares of Textron Inc. $TXT

Geode Capital Management LLC trimmed its position in shares of Textron Inc. (NYSE:TXT) by 0.5% during the 4th quarter, Holdings Channel reports. The firm owned 4,562,063 shares of the aerospace company’s stock after selling 22,977 shares during the period. Geode Capital Management LLC’s holdings in Textron were worth $396,133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management raised its position in shares of Textron by 3,255.6% during the 4th quarter. Activest Wealth Management now owns 302 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 293 shares during the period. Elyxium Wealth LLC bought a new stake in shares of Textron during the 4th quarter valued at $30,000. Accredited Wealth Management LLC increased its holdings in Textron by 804.0% in the 3rd quarter. Accredited Wealth Management LLC now owns 452 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 402 shares during the last quarter. 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 acquiring an additional 169 shares during the last quarter. Finally, Optiver Holding B.V. bought a new stake in Textron in the 3rd quarter valued at $45,000. 86.03% of the stock is currently owned by institutional investors.

Insider Transactions at Textron

In other news, Director Thomas A. Kennedy purchased 10,300 shares of the company’s stock in a transaction that occurred 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 purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Kerry Clark sold 2,517 shares of Textron stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $93.09, for a total transaction of $234,307.53. Following the transaction, 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. 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

Textron stock opened at $91.86 on Monday. The company’s 50-day moving average price is $90.32 and its 200-day moving average price is $90.38. Textron Inc. has a twelve month low of $72.76 and a twelve month high of $101.57. The company has a quick ratio of 0.87, a current ratio of 1.84 and a debt-to-equity ratio of 0.43. The company has a market cap of $15.97 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.37 and a beta of 0.91.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.15. Textron had a net margin of 6.15% and a return on equity of 14.56%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the firm posted $1.28 EPS. The business’s quarterly revenue 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 forecast that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TXT. Sanford C. Bernstein lifted their price target 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. 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. Wells Fargo & Company began 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. Weiss Ratings downgraded shares of Textron from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Finally, TD Cowen upgraded shares of Textron from a “hold” rating to a “buy” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $101.18.

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.