Neo Ivy Capital Management Acquires Shares of 6,650 Textron Inc. $TXT

Neo Ivy Capital Management bought a new position in shares of Textron Inc. (NYSE:TXT) in the 3rd quarter, HoldingsChannel reports. The fund bought 6,650 shares of the aerospace company’s stock, valued at approximately $562,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in Textron by 144.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,664,612 shares of the aerospace company’s stock valued at $213,942,000 after acquiring an additional 1,573,206 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Textron by 270.7% during 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 purchasing an additional 734,478 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Textron by 62.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,231,492 shares of the aerospace company’s stock worth $98,876,000 after purchasing an additional 471,274 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Textron by 19.9% in the second quarter. Brandes Investment Partners LP now owns 2,714,466 shares of the aerospace company’s stock worth $217,945,000 after purchasing an additional 451,017 shares during the last quarter. Finally, Man Group plc lifted its holdings in shares of Textron by 467.7% in the second quarter. Man Group plc now owns 384,229 shares of the aerospace company’s stock valued at $30,850,000 after purchasing an additional 316,553 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

Shares of TXT opened at $95.01 on Monday. The stock has a 50 day moving average of $94.14 and a 200 day moving average of $86.95. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.43 and a beta of 0.95. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $101.57. The company has a current ratio of 1.97, a quick ratio of 0.99 and a debt-to-equity ratio of 0.49.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 28th. The aerospace company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.01). The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Textron had a return on equity of 14.63% and a net margin of 6.22%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, March 13th. Textron’s payout ratio is 1.57%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TXT shares. Wall Street Zen downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Jefferies Financial Group restated a “buy” rating on shares of Textron in a research note on Wednesday, February 18th. Citigroup cut their price objective on shares of Textron from $107.00 to $97.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their target price on shares of Textron from $88.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Finally, Sanford C. Bernstein increased their target price on shares of Textron from $94.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and an average price target of $98.60.

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 19,808 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $97.96, for a total transaction of $1,940,391.68. Following the completion of the transaction, the vice president owned 7,872 shares in the company, valued at approximately $771,141.12. This represents a 71.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Julie G. Duffy sold 19,857 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $98.70, for a total transaction of $1,959,885.90. Following the sale, the executive vice president owned 37,039 shares of the company’s stock, valued at $3,655,749.30. This trade represents a 34.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 304,473 shares of company stock worth $29,976,723 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

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.