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

Smithbridge Asset Management Inc. DE decreased its holdings in shares of Textron Inc. (NYSE:TXT) by 50.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Activest Wealth Management lifted its position in shares of Textron by 3,255.6% in the fourth quarter. Activest Wealth Management now owns 302 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 293 shares in the last quarter. Wilkerson Advisory Group LLC purchased a new stake in shares of Textron in the fourth quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in shares of Textron during the 4th quarter valued at approximately $30,000. Strive Financial Group LLC acquired a new stake in Textron during the fourth quarter worth $31,000. Finally, Torren Management LLC acquired a new stake in shares of Textron during the 4th quarter worth about $50,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TXT has been the subject of several research reports. Citigroup lifted their target price on shares of Textron from $97.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. TD Cowen raised shares of Textron from a “hold” rating to a “buy” rating in a report on Thursday, April 30th. Weiss Ratings cut shares of Textron from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 26th. JPMorgan Chase & Co. increased their price objective on shares of Textron from $90.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Morgan Stanley set a $109.00 price objective on shares of Textron in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Textron has an average rating of “Moderate Buy” and a consensus target price of $102.80.

Insider Activity at Textron

In related news, Director Thomas A. Kennedy bought 10,300 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $95.98 per share, with a total value of $988,594.00. Following the completion of the acquisition, the director owned 20,162 shares in the company, valued at approximately $1,935,148.76. This trade represents a 104.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Kerry Clark sold 2,517 shares of the company’s stock in a transaction on 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 approximately $801,597.99. The trade was a 22.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company’s stock.

Textron Stock Up 0.3%

Shares of NYSE:TXT opened at $91.99 on Thursday. The company has a current ratio of 1.84, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43. Textron Inc. has a twelve month low of $75.80 and a twelve month high of $101.57. The company has a market capitalization of $16.00 billion, a PE ratio of 17.59, a P/E/G ratio of 1.37 and a beta of 0.90. The firm has a 50 day simple moving average of $90.88 and a 200-day simple moving average of $91.73.

Textron (NYSE:TXT) last announced its earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.15. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 14.56% and a net margin of 6.15%.The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. On average, equities analysts predict that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron’s dividend payout ratio (DPR) 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.