First Trust Advisors LP Sells 23,323 Shares of Textron Inc. $TXT

First Trust Advisors LP lowered its holdings in shares of Textron Inc. (NYSE:TXT) by 4.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 533,932 shares of the aerospace company’s stock after selling 23,323 shares during the period. First Trust Advisors LP’s holdings in Textron were worth $46,751,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. State Street Corp raised its stake in Textron by 2.6% during the fourth quarter. State Street Corp now owns 9,464,324 shares of the aerospace company’s stock worth $825,193,000 after acquiring an additional 244,017 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Textron by 1.7% in the 3rd quarter. Invesco Ltd. now owns 8,270,901 shares of the aerospace company’s stock valued at $698,808,000 after purchasing an additional 140,713 shares in the last quarter. Boston Partners boosted its stake in shares of Textron by 0.9% in the 3rd quarter. Boston Partners now owns 7,257,533 shares of the aerospace company’s stock valued at $613,327,000 after purchasing an additional 66,747 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Textron by 51.1% during the 4th quarter. AQR Capital Management LLC now owns 5,357,182 shares of the aerospace company’s stock valued at $466,986,000 after purchasing an additional 1,811,787 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Textron by 18.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,551,781 shares of the aerospace company’s stock worth $222,455,000 after purchasing an additional 405,314 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Thomas A. Kennedy purchased 10,300 shares of the stock in a transaction on Friday, May 1st. The stock was purchased at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the acquisition, the director owned 20,162 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, Director R Kerry Clark sold 2,517 shares of the 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 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. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $95.49 on Monday. The company has a market capitalization of $16.60 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.43 and a beta of 0.90. 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 twelve month low of $75.80 and a twelve month high of $101.57. The stock has a fifty day simple moving average of $91.08 and a 200 day simple moving average of $92.06.

Textron (NYSE:TXT) last announced 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 return on equity of 14.56% and a net margin of 6.15%.The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the business earned $1.28 EPS. The business’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. Sell-side analysts expect that Textron Inc. will post 6.6 EPS for the current year.

Textron Dividend Announcement

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

Analysts Set New Price Targets

TXT has been the topic of a number of research analyst reports. TD Cowen cut their target price on shares of Textron from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Jefferies Financial Group reissued a “buy” rating on shares of Textron in a report on Sunday, May 3rd. Weiss Ratings upgraded Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upped their target price on Textron from $90.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Wall Street Zen raised Textron from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.10.

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.