Textron Inc. $TXT Stake Lessened by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in shares of Textron Inc. (NYSE:TXT) by 23.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,043,220 shares of the aerospace company’s stock after selling 945,120 shares during the quarter. Primecap Management Co. CA’s holdings in Textron were worth $257,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC grew its stake in Textron by 388.5% in the third quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 237 shares in the last quarter. Assetmark Inc. lifted its holdings in Textron by 191.9% during the 2nd quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock worth $26,000 after buying an additional 213 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Textron in the 2nd quarter worth approximately $27,000. Quent Capital LLC bought a new stake in shares of Textron in the 3rd quarter valued at approximately $33,000. Finally, Private Trust Co. NA increased its holdings in shares of Textron by 155.6% in the 3rd quarter. Private Trust Co. NA now owns 460 shares of the aerospace company’s stock valued at $39,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Lisa M. Atherton sold 7,600 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $98.68, for a total value of $749,968.00. Following the completion of the sale, the chief executive officer owned 29,473 shares in the company, valued at $2,908,395.64. This represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Scott C. Donnelly sold 219,619 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $98.41, for a total value of $21,612,705.79. Following the transaction, the chairman directly owned 742,418 shares of the company’s stock, valued at $73,061,355.38. This represents a 22.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 304,473 shares of company stock worth $29,976,723. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TXT shares. Freedom Capital upgraded shares of Textron to a “strong-buy” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. upped their target price on Textron from $88.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Weiss Ratings upgraded Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Sanford C. Bernstein boosted their price objective on Textron from $94.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, February 19th. Finally, Susquehanna restated a “positive” rating and set a $110.00 price objective on shares of Textron in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.60.

Textron Stock Performance

TXT stock opened at $96.70 on Thursday. The company has a 50-day simple moving average of $92.97 and a 200 day simple moving average of $85.98. The company has a market capitalization of $16.84 billion, a P/E ratio of 18.92, a PEG ratio of 1.49 and a beta of 0.99. The company has a quick ratio of 0.99, a current ratio of 1.97 and a debt-to-equity ratio of 0.49. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $101.57.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 28th. The aerospace company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.01). Textron had a return on equity of 14.63% and a net margin of 6.22%.The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same period in the prior year, the company posted $1.34 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, March 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s dividend payout ratio (DPR) is 1.57%.

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.