Engineers Gate Manager LP Reduces Stake in Textron Inc. $TXT

Engineers Gate Manager LP decreased its stake in shares of Textron Inc. (NYSE:TXT) by 12.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 594,879 shares of the aerospace company’s stock after selling 85,940 shares during the period. Textron accounts for 0.6% of Engineers Gate Manager LP’s investment portfolio, making the stock its 25th largest position. Engineers Gate Manager LP’s holdings in Textron were worth $51,856,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management lifted its holdings in 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 purchasing an additional 293 shares in the last quarter. Wilkerson Advisory Group LLC bought a new position in shares of Textron in the fourth quarter worth $26,000. Elyxium Wealth LLC bought a new position in shares of Textron in the fourth quarter worth $30,000. Accredited Wealth Management LLC increased its holdings in shares of Textron by 804.0% in the third quarter. Accredited Wealth Management LLC now owns 452 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 402 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Textron by 52.2% in the third quarter. Assetmark Inc. now owns 493 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 169 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling

In other Textron news, Director Thomas A. Kennedy purchased 10,300 shares of Textron stock in a transaction on Friday, May 1st. The shares were acquired at an average cost of $95.98 per share, for a total transaction of $988,594.00. Following the completion of the transaction, the director directly owned 20,162 shares of the company’s stock, valued at approximately $1,935,148.76. The trade was a 104.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director R Kerry Clark sold 2,517 shares of the stock in a transaction that occurred 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 transaction, the director 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 disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by company insiders.

Textron Price Performance

TXT stock opened at $92.56 on Thursday. 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 Inc. has a one year low of $75.80 and a one year high of $101.57. The stock has a market cap of $16.10 billion, a PE ratio of 17.70, a P/E/G ratio of 1.40 and a beta of 0.90. The firm has a 50 day simple moving average of $91.25 and a two-hundred day simple moving average of $91.36.

Textron (NYSE:TXT) last released its quarterly earnings results 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 business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the company earned $1.28 EPS. The business’s quarterly 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. On average, analysts predict that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, June 12th. Textron’s dividend payout ratio (DPR) is presently 1.53%.

Wall Street Analysts Forecast Growth

TXT has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Textron from $90.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. TD Cowen raised shares of Textron from a “hold” rating to a “buy” rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. UBS Group upped their price objective on shares of Textron from $99.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Textron in a research report on Sunday, May 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.18.

Textron 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.