Bastion Asset Management Inc. Takes Position in Textron Inc. $TXT

Bastion Asset Management Inc. acquired a new position in shares of Textron Inc. (NYSE:TXT) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,306 shares of the aerospace company’s stock, valued at approximately $1,606,000.

Other hedge funds also recently modified their holdings of the company. Motley Fool Asset Management LLC boosted its holdings in Textron by 3.7% in the fourth quarter. Motley Fool Asset Management LLC now owns 3,008 shares of the aerospace company’s stock valued at $262,000 after acquiring an additional 106 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Textron by 22.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 653 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 119 shares during the period. Capital Management Corp VA raised its stake in Textron by 1.0% during the 4th quarter. Capital Management Corp VA now owns 12,477 shares of the aerospace company’s stock worth $1,088,000 after buying an additional 120 shares during the period. Root Financial Partners LLC raised its position in shares of Textron by 24.5% during the fourth quarter. Root Financial Partners LLC now owns 630 shares of the aerospace company’s stock worth $55,000 after purchasing an additional 124 shares during the period. Finally, Essex Financial Services Inc. lifted its stake in Textron by 4.9% in the first quarter. Essex Financial Services Inc. now owns 2,712 shares of the aerospace company’s stock valued at $237,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Trading Up 1.9%

TXT opened at $90.46 on Friday. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.33 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’s 50 day moving average price is $90.93 and its two-hundred day moving average price is $91.88. 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 quarterly earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earned $1.28 EPS. The company’s 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. As a group, research analysts predict that Textron Inc. will post 6.6 earnings per share for the current year.

Textron Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on TXT. UBS Group upped their price target on Textron from $99.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. TD Cowen cut their target price on shares of Textron from $115.00 to $105.00 and set a “hold” rating for the company in a research note on Monday. Citigroup lifted their price objective on shares of Textron from $97.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Morgan Stanley set a $97.00 target price on Textron in a research report on Wednesday. Finally, Weiss Ratings raised shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and an average target price of $103.10.

Insider Activity at Textron

In related news, Director R Kerry Clark sold 2,517 shares of the business’s 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 completion of the transaction, the director directly owned 8,611 shares in the company, valued at $801,597.99. The trade was a 22.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas A. Kennedy acquired 10,300 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was bought 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 of the company’s stock, valued at $1,935,148.76. The trade was a 104.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.90% of the company’s stock.

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.