Clough Capital Partners L P Takes Position in Textron Inc. $TXT

Clough Capital Partners L P purchased a new stake in Textron Inc. (NYSE:TXT) in the fourth quarter, HoldingsChannel reports. The firm purchased 193,430 shares of the aerospace company’s stock, valued at approximately $16,861,000. Textron makes up approximately 1.5% of Clough Capital Partners L P’s holdings, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in shares of Textron by 2.6% in the fourth quarter. State Street Corp now owns 9,464,324 shares of the aerospace company’s stock valued at $825,193,000 after buying an additional 244,017 shares in the last quarter. Invesco Ltd. raised its position in Textron by 1.7% during the third 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 raised its position in Textron by 0.9% during the third 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 raised its position in Textron by 51.1% during the fourth 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Textron by 18.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,551,781 shares of the aerospace company’s stock valued at $222,455,000 after purchasing an additional 405,314 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Textron

In other Textron news, Director Thomas A. Kennedy acquired 10,300 shares of Textron stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $95.98 per share, with a total value of $988,594.00. Following the completion of the purchase, the director directly owned 20,162 shares in the company, valued at $1,935,148.76. This trade represents a 104.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R Kerry Clark sold 2,517 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total transaction of $234,307.53. Following the completion of 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. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

TXT has been the subject of several research analyst reports. UBS Group boosted their price objective 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. Wells Fargo & Company initiated coverage on shares of Textron in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $92.00 price objective for the company. Citigroup boosted their price objective on shares of Textron from $97.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Sanford C. Bernstein boosted their price objective on shares of Textron from $94.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, February 19th. Finally, TD Cowen upgraded shares of Textron from a “hold” rating to a “buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.18.

Textron Stock Performance

NYSE TXT opened at $92.56 on Thursday. The firm’s fifty day moving average price is $91.25 and its two-hundred day moving average price is $91.36. The stock has a market cap of $16.10 billion, a PE ratio of 17.70, a PEG ratio of 1.40 and a beta of 0.90. Textron Inc. has a fifty-two week low of $75.80 and a fifty-two week high of $101.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.87 and a current ratio of 1.84.

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 analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The company’s 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 analysts expect that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Dividend Announcement

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