Textron Inc. $TXT Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE reduced its stake in Textron Inc. (NYSE:TXT) by 50.0% during the 1st quarter, Holdings Channel reports. The fund owned 12,750 shares of the aerospace company’s stock after selling 12,750 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Textron were worth $1,116,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Textron by 13.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,522 shares of the aerospace company’s stock valued at $1,049,000 after acquiring an additional 1,709 shares during the last quarter. Empowered Funds LLC boosted its position in Textron by 6.3% during the 1st quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company’s stock worth $1,546,000 after purchasing an additional 1,265 shares during the period. Focus Partners Wealth boosted its position in Textron by 18.0% during the 1st quarter. Focus Partners Wealth now owns 4,814 shares of the aerospace company’s stock worth $348,000 after purchasing an additional 735 shares during the period. Sivia Capital Partners LLC acquired a new stake in Textron in the 2nd quarter valued at $453,000. Finally, Baird Financial Group Inc. raised its holdings in shares of Textron by 15.3% during the 2nd quarter. Baird Financial Group Inc. now owns 19,171 shares of the aerospace company’s stock valued at $1,539,000 after buying an additional 2,548 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Textron news, 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 owned 8,611 shares of the company’s stock, valued at $801,597.99. The trade was a 22.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas A. Kennedy bought 10,300 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was acquired at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the acquisition, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TXT shares. Weiss Ratings downgraded shares of Textron from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. raised their price objective on Textron from $90.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Textron in a report on Sunday, May 3rd. Wells Fargo & Company began coverage on shares of Textron in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $92.00 price target for the company. Finally, UBS Group lifted their target price on Textron from $99.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.80.

Textron Trading Up 0.3%

NYSE:TXT opened at $91.99 on Thursday. 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 1-year low of $75.80 and a 1-year high of $101.57. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90. The stock has a fifty day simple moving average of $90.88 and a 200 day simple moving average of $91.73.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, April 30th. The aerospace company reported $1.45 EPS 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 $3.69 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business posted $1.28 EPS. 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. Sell-side analysts forecast that Textron Inc. will post 6.6 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a dividend of $0.02 per share. The ex-dividend date was 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%.

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.