259,377 Shares in Textron Inc. $TXT Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in Textron Inc. (NYSE:TXT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 259,377 shares of the aerospace company’s stock, valued at approximately $23,793,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TXT. Legal & General Group Plc acquired a new position in Textron during the second quarter worth $78,431,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Textron in the second quarter valued at $8,045,000. Manning & Napier Advisors LLC acquired a new stake in shares of Textron in the second quarter valued at $121,000. Cibc World Market Inc. purchased a new stake in shares of Textron in the 2nd quarter valued at $6,215,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Textron in the 2nd quarter valued at $3,473,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TXT. TD Cowen lowered their target price on Textron from $115.00 to $105.00 and set a “hold” rating for the company in a report on Monday, July 13th. Morgan Stanley set a $98.00 price target on shares of Textron in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Textron from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. UBS Group reaffirmed a “neutral” rating and set a $95.00 target price on shares of Textron in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Textron from $90.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

Textron Price Performance

Shares of NYSE TXT opened at $83.19 on Friday. The stock’s 50-day moving average is $88.74 and its two-hundred day moving average is $91.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 0.85. Textron Inc. has a 1-year low of $78.12 and a 1-year high of $101.57. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.20 and a beta of 0.91.

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. Analysts forecast that Textron Inc. will post 6.5 EPS 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%.

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.