Great Lakes Advisors LLC Sells 53,258 Shares of Textron Inc. $TXT

Great Lakes Advisors LLC lowered its holdings in shares of Textron Inc. (NYSE:TXT) by 6.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 795,539 shares of the aerospace company’s stock after selling 53,258 shares during the period. Great Lakes Advisors LLC owned about 0.45% of Textron worth $69,347,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in shares of Textron by 10.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 166,532 shares of the aerospace company’s stock valued at $14,070,000 after purchasing an additional 15,550 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Textron in the 4th quarter worth $1,988,000. Goldman Sachs Group Inc. grew its holdings in Textron by 22.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,191,811 shares of the aerospace company’s stock worth $103,890,000 after acquiring an additional 218,201 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Textron by 10.7% in the 4th quarter. New York State Teachers Retirement System now owns 156,485 shares of the aerospace company’s stock worth $13,641,000 after acquiring an additional 15,159 shares during the last quarter. Finally, Perbak Capital Partners LLP bought a new stake in Textron in the 3rd quarter worth $1,329,000. Institutional investors own 86.03% of the company’s stock.

Insider Activity

In other news, Director R Kerry Clark sold 2,517 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total value of $234,307.53. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Kennedy bought 10,300 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was bought at an average cost of $95.98 per share, with a total value of $988,594.00. Following the completion of 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 position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Textron in a report on Sunday, May 3rd. Wells Fargo & Company assumed 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. Citigroup raised their price target on shares of Textron from $97.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Morgan Stanley set a $109.00 price target on shares of Textron in a report on Monday, May 4th. Finally, Sanford C. Bernstein raised their price target on shares of Textron from $94.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.18.

Textron Trading Up 2.5%

NYSE:TXT opened at $93.64 on Friday. The company has a 50-day moving average price of $90.87 and a 200-day moving average price of $91.07. Textron Inc. has a 12 month low of $75.75 and a 12 month high of $101.57. The company has a current ratio of 1.84, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 1.37 and a beta of 0.90.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, topping 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 firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the company posted $1.28 EPS. The company’s quarterly 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. Equities analysts predict that Textron Inc. will post 6.6 EPS for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given 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, June 12th. Textron’s dividend payout ratio (DPR) is currently 1.53%.

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.