Cibc World Market Inc. Makes New $6.21 Million Investment in Textron Inc. $TXT

Cibc World Market Inc. acquired a new stake in shares of Textron Inc. (NYSE:TXT) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 67,754 shares of the aerospace company’s stock, valued at approximately $6,215,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Textron in the second quarter worth about $1,434,125,000. AQR Capital Management LLC lifted its holdings in shares of Textron by 51.1% during the fourth quarter. AQR Capital Management LLC now owns 5,357,182 shares of the aerospace company’s stock valued at $466,986,000 after purchasing an additional 1,811,787 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Textron in the 2nd quarter worth approximately $105,946,000. Great Lakes Advisors LLC bought a new stake in shares of Textron in the 2nd quarter worth approximately $81,224,000. Finally, Deutsche Bank AG purchased a new stake in shares of Textron in the 2nd quarter worth approximately $67,819,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

TXT has been the subject of a number of recent research reports. TD Cowen lowered their price objective on Textron from $115.00 to $105.00 and set a “hold” rating for the company in a research note on Monday, July 13th. Wall Street Zen downgraded Textron from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Morgan Stanley set a $98.00 price objective on shares of Textron in a research note on Wednesday, July 29th. UBS Group reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Textron in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Textron from $90.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Textron currently has an average rating of “Moderate Buy” and an average target price of $102.44.

Textron Price Performance

Shares of NYSE:TXT opened at $81.89 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 1.86. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.91. The business has a 50-day simple moving average of $89.19 and a two-hundred day simple moving average of $91.33. Textron Inc. has a fifty-two week low of $78.12 and a fifty-two week high of $101.57.

Textron (NYSE:TXT) last announced its quarterly earnings results on Tuesday, July 28th. The aerospace company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. Textron had a net margin of 6.12% and a return on equity of 14.30%. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period in the previous year, the business posted $1.55 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. On average, analysts expect that Textron Inc. will post 6.5 earnings per share for the current year.

Textron Announces Dividend

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