Textron (NYSE:TXT) Now Covered by Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Textron (NYSE:TXT) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued an equal weight rating and a $92.00 price target on the aerospace company’s stock.

Other research analysts have also recently issued reports about the company. Freedom Capital raised Textron to a “strong-buy” rating in a report on Friday, January 16th. Jefferies Financial Group reissued a “buy” rating on shares of Textron in a report on Wednesday, February 18th. Susquehanna reaffirmed a “positive” rating and issued a $110.00 target price on shares of Textron in a research note on Thursday, January 15th. Citigroup reduced their target price on shares of Textron from $107.00 to $97.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. Finally, Weiss Ratings raised shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.00.

Textron Trading Up 1.6%

TXT stock opened at $88.96 on Wednesday. The business has a fifty day moving average price of $93.68 and a 200 day moving average price of $88.07. Textron has a fifty-two week low of $57.70 and a fifty-two week high of $101.57. The stock has a market capitalization of $15.49 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.97 and a quick ratio of 0.99.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 28th. The aerospace company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.01). The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.11 billion. Textron had a return on equity of 14.63% and a net margin of 6.22%.Textron’s revenue for the quarter was up 15.6% compared to the same quarter last year. 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. Analysts expect that Textron will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a $0.02 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is currently 1.57%.

Insider Transactions at Textron

In other news, EVP Julie G. Duffy sold 19,857 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $98.70, for a total value of $1,959,885.90. Following the transaction, the executive vice president owned 37,039 shares of the company’s stock, valued at approximately $3,655,749.30. This trade represents a 34.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Scott C. Donnelly sold 219,619 shares of Textron stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $98.41, for a total transaction of $21,612,705.79. Following the sale, the chairman owned 742,418 shares of the company’s stock, valued at approximately $73,061,355.38. This represents a 22.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 304,473 shares of company stock valued at $29,976,723. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Textron

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its holdings in Textron by 10.3% in the third quarter. Envestnet Asset Management Inc. now owns 166,532 shares of the aerospace company’s stock valued at $14,070,000 after purchasing an additional 15,550 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Textron by 6.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 695,962 shares of the aerospace company’s stock worth $58,802,000 after buying an additional 39,389 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Textron during the fourth quarter worth about $1,988,000. Rakuten Investment Management Inc. acquired a new position in shares of Textron during the 3rd quarter worth about $5,018,000. Finally, Baxter Bros Inc. increased its stake in shares of Textron by 45.8% in the 3rd quarter. Baxter Bros Inc. now owns 39,865 shares of the aerospace company’s stock valued at $3,368,000 after acquiring an additional 12,530 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

About Textron

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.