Textron Inc. $TXT Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its holdings in Textron Inc. (NYSE:TXT) by 11.1% during the 4th quarter, Holdings Channel reports. The firm owned 808,757 shares of the aerospace company’s stock after selling 101,385 shares during the quarter. Legal & General Group Plc’s holdings in Textron were worth $70,499,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Capital Management Corp VA grew its holdings in Textron by 1.0% in the fourth quarter. Capital Management Corp VA now owns 12,477 shares of the aerospace company’s stock valued at $1,088,000 after purchasing an additional 120 shares during the period. Glenmede Investment Management LP grew its holdings in Textron by 1.0% in the third 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 period. Geneos Wealth Management Inc. grew its holdings in Textron by 18.8% in the second 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 period. Assetmark Inc. grew its holdings in Textron by 52.2% in the third 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 period. Finally, Arizona State Retirement System grew its holdings in Textron by 0.3% in the third quarter. Arizona State Retirement System now owns 53,256 shares of the aerospace company’s stock valued at $4,500,000 after purchasing an additional 172 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Thomas A. Kennedy acquired 10,300 shares of Textron stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the completion of the transaction, the director owned 20,162 shares in the company, valued at $1,935,148.76. This represents a 104.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director R Kerry Clark sold 2,517 shares of Textron stock in a transaction that occurred 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. The trade was a 22.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Textron from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Weiss Ratings downgraded Textron from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. TD Cowen upgraded Textron from a “hold” rating to a “buy” rating in a research report on Thursday, April 30th. Morgan Stanley set a $109.00 target price on Textron in a research report on Monday, May 4th. Finally, Sanford C. Bernstein raised their target price on Textron from $94.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $101.18.

Textron Stock Performance

NYSE TXT opened at $91.86 on Friday. 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 0.93. The stock’s 50 day simple moving average is $90.32 and its 200-day simple moving average is $90.33. Textron Inc. has a 1-year low of $72.76 and a 1-year high of $101.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 0.87.

Textron (NYSE:TXT) last released its earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.15. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a return on equity of 14.56% and a net margin of 6.15%.The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts anticipate that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors 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 dividend on an annualized basis and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is presently 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.