Smithbridge Asset Management Inc. DE Invests $2.22 Million in Textron Inc. $TXT

Smithbridge Asset Management Inc. DE acquired a new position in Textron Inc. (NYSE:TXT) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 25,500 shares of the aerospace company’s stock, valued at approximately $2,223,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in shares of Textron by 2.4% in the 3rd quarter. State Street Corp now owns 9,220,307 shares of the aerospace company’s stock worth $779,205,000 after buying an additional 212,857 shares in the last quarter. Invesco Ltd. lifted its stake in Textron by 1.7% in the 3rd quarter. Invesco Ltd. now owns 8,270,901 shares of the aerospace company’s stock valued at $698,808,000 after buying an additional 140,713 shares in the last quarter. Boston Partners lifted its stake in Textron by 0.9% in the 3rd quarter. Boston Partners now owns 7,257,533 shares of the aerospace company’s stock valued at $613,327,000 after buying an additional 66,747 shares in the last quarter. AQR Capital Management LLC lifted its stake in Textron by 33.1% in the 3rd quarter. AQR Capital Management LLC now owns 3,545,395 shares of the aerospace company’s stock valued at $298,239,000 after buying an additional 880,783 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Textron by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,146,467 shares of the aerospace company’s stock valued at $181,348,000 after buying an additional 138,128 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Trading Down 1.9%

Shares of TXT stock opened at $91.47 on Thursday. The firm has a market cap of $15.91 billion, a P/E ratio of 17.49, a PEG ratio of 1.39 and a beta of 0.90. Textron Inc. has a 1-year low of $75.75 and a 1-year high of $101.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 0.87. The firm’s 50-day simple moving average is $90.74 and its 200-day simple moving average is $90.98.

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

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a $0.02 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is presently 1.53%.

Insider Activity at Textron

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TXT. JPMorgan Chase & Co. upped their target price on Textron from $90.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Citigroup upped their target price on shares of Textron from $97.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. Weiss Ratings lowered shares of Textron from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Jefferies Financial Group restated a “buy” rating on shares of Textron in a report on Sunday, May 3rd. Finally, Morgan Stanley set a $109.00 price target on Textron in a research note 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 given a Hold rating to the company. According to data from MarketBeat.com, Textron presently has an average rating of “Hold” and an average price target of $101.18.

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.