Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Textron Inc. $TXT

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Textron Inc. (NYSE:TXT) in the 2nd quarter, HoldingsChannel reports. The firm bought 339,517 shares of the aerospace company’s stock, valued at approximately $31,144,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Activest Wealth Management raised its holdings in shares of Textron by 3,255.6% during the 4th quarter. Activest Wealth Management now owns 302 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 293 shares during the period. Wilkerson Advisory Group LLC purchased a new stake in shares of Textron in the fourth quarter valued at about $26,000. Cedar Mountain Advisors LLC acquired a new stake in Textron during the first quarter worth about $29,000. Elyxium Wealth LLC acquired a new stake in Textron during the fourth quarter worth about $30,000. Finally, Strive Financial Group LLC purchased a new position in Textron during the fourth quarter worth about $31,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

NYSE:TXT opened at $82.17 on Tuesday. Textron Inc. has a 52 week low of $78.12 and a 52 week high of $101.57. The company has a market cap of $14.13 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 1.20 and a beta of 0.91. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $89.42 and a two-hundred day simple moving average of $91.39.

Textron (NYSE:TXT) last posted its quarterly earnings results on Tuesday, July 28th. The aerospace company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.81 billion. Textron had a return on equity of 14.30% and a net margin of 6.12%.Textron’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, equities analysts anticipate that Textron Inc. will post 6.5 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is 1.51%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. TD Cowen decreased their target price on shares of Textron from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, July 13th. UBS Group reaffirmed a “neutral” rating and set a $95.00 price target on shares of Textron in a research report on Wednesday, July 29th. Morgan Stanley set a $98.00 price objective on Textron in a research report on Wednesday, July 29th. Jefferies Financial Group restated a “buy” rating on shares of Textron in a research report on Sunday, May 3rd. Finally, Weiss Ratings raised Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and a consensus price target of $102.44.

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.