Waddell & Associates LLC Invests $477,000 in Textron Inc. $TXT

Waddell & Associates LLC purchased a new position in Textron Inc. (NYSE:TXT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,470 shares of the aerospace company’s stock, valued at approximately $477,000.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of Textron by 10.3% in the third quarter. Envestnet Asset Management Inc. now owns 166,532 shares of the aerospace company’s stock worth $14,070,000 after purchasing an additional 15,550 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Textron in the fourth quarter worth approximately $1,988,000. New York State Teachers Retirement System lifted its position in shares of Textron by 10.7% in the fourth quarter. New York State Teachers Retirement System now owns 156,485 shares of the aerospace company’s stock worth $13,641,000 after purchasing an additional 15,159 shares in the last quarter. Perbak Capital Partners LLP purchased a new stake in shares of Textron in the third quarter worth approximately $1,329,000. Finally, Inceptionr LLC purchased a new stake in shares of Textron in the third quarter worth approximately $905,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director R Kerry Clark sold 2,517 shares of Textron stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total value of $234,307.53. Following the transaction, the director owned 8,611 shares of the company’s stock, valued at $801,597.99. This trade represents a 22.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas A. Kennedy purchased 10,300 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was purchased at an average cost of $95.98 per share, for a total transaction of $988,594.00. Following the transaction, the director owned 20,162 shares of the company’s stock, valued at approximately $1,935,148.76. This trade represents a 104.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen raised shares of Textron from a “hold” rating to a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised 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. Jefferies Financial Group reaffirmed a “buy” rating on shares of Textron in a research report on Sunday, May 3rd. UBS Group raised their price objective on shares of Textron from $99.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Morgan Stanley set a $109.00 price objective on shares of Textron in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Textron has a consensus rating of “Hold” and a consensus price target of $101.18.

Textron Price Performance

Shares of TXT opened at $93.13 on Wednesday. The firm has a market cap of $16.19 billion, a PE ratio of 17.81, a PEG ratio of 1.37 and a beta of 0.90. The firm’s 50 day moving average price is $90.63 and its 200 day moving average price is $90.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.87 and a current ratio of 1.84. Textron Inc. has a twelve month low of $75.75 and a twelve month high of $101.57.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.15. Textron had a net margin of 6.15% and a return on equity of 14.56%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, research analysts expect that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a $0.02 dividend. The ex-dividend date of this dividend is 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%.

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.