Royal Bank of Canada Lowers Stake in Textron Inc. $TXT

Royal Bank of Canada reduced its position in Textron Inc. (NYSE:TXT) by 32.8% in the first quarter, HoldingsChannel.com reports. The firm owned 347,816 shares of the aerospace company’s stock after selling 170,088 shares during the period. Royal Bank of Canada’s holdings in Textron were worth $30,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TXT. AQR Capital Management LLC lifted its stake in shares of Textron by 51.1% during the 4th quarter. AQR Capital Management LLC now owns 5,357,182 shares of the aerospace company’s stock valued at $466,986,000 after buying an additional 1,811,787 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Textron by 270.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,005,843 shares of the aerospace company’s stock worth $80,759,000 after buying an additional 734,478 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Textron during the third quarter valued at about $56,255,000. Dimensional Fund Advisors LP raised its holdings in Textron by 18.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,551,781 shares of the aerospace company’s stock valued at $222,455,000 after acquiring an additional 405,314 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Textron in the first quarter valued at about $34,274,000. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

NYSE:TXT opened at $86.34 on Tuesday. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.24 and a beta of 0.90. Textron Inc. has a 1 year low of $76.45 and a 1 year high of $101.57. The stock’s 50 day simple moving average is $90.85 and its two-hundred day simple moving average is $91.92. 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 (NYSE:TXT) last released 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. Textron had a net margin of 6.12% and a return on equity of 14.30%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Textron’s revenue was up 3.0% on a year-over-year basis. 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.

Insider Activity

In other news, Director R Kerry Clark sold 2,517 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total transaction of $234,307.53. Following the sale, the director directly owned 8,611 shares in the company, valued at approximately $801,597.99. This represents a 22.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TXT shares. JPMorgan Chase & Co. upped their price objective on Textron from $90.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. TD Cowen lowered their price target on Textron from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Morgan Stanley set a $98.00 price target on Textron in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Textron from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings upgraded shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.44.

Textron Company 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.