Textron (NYSE:TXT) Rating Increased to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Textron (NYSE:TXT) to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on TXT. Wall Street Zen cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. UBS Group increased their price target on Textron from $89.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. Jefferies Financial Group restated a “buy” rating on shares of Textron in a research note on Wednesday, February 18th. Weiss Ratings raised shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Finally, Morgan Stanley set a $92.00 target price on shares of Textron in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $98.00.

Textron Trading Up 1.6%

NYSE:TXT opened at $88.96 on Tuesday. 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 has a one year low of $57.70 and a one year high of $101.57. The company has a market cap of $15.49 billion, a PE ratio of 17.41, a PEG ratio of 1.32 and a beta of 0.97. The firm has a 50-day moving average of $93.68 and a 200-day moving average of $88.07.

Textron (NYSE:TXT) last announced its quarterly earnings results 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 the consensus estimate of $4.11 billion. Textron had a net margin of 6.22% and a return on equity of 14.63%. Textron’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts expect that Textron will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 19,808 shares of Textron stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $97.96, for a total transaction of $1,940,391.68. Following the sale, the vice president directly owned 7,872 shares in the company, valued at approximately $771,141.12. This trade represents a 71.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lisa M. Atherton sold 7,600 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $98.68, for a total value of $749,968.00. Following the completion of the transaction, the chief executive officer directly owned 29,473 shares in the company, valued at approximately $2,908,395.64. This represents a 20.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 304,473 shares of company stock valued at $29,976,723 in the last ninety days. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Textron

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC increased its holdings in Textron by 388.5% during the third quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock worth $25,000 after buying an additional 237 shares during the last quarter. Activest Wealth Management boosted its stake in Textron by 3,255.6% in the fourth quarter. Activest Wealth Management now owns 302 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 293 shares during the last quarter. Wilkerson Advisory Group LLC bought a new position in shares of Textron during the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new position in shares of Textron during the 4th quarter valued at approximately $30,000. Finally, Strive Financial Group LLC purchased a new stake in shares of Textron during the 4th quarter worth approximately $31,000. 86.03% of the stock is owned by hedge funds and other 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.