Primecap Management Co. CA Buys Shares of 1,217,960 Textron Inc. $TXT

Primecap Management Co. CA bought a new position in Textron Inc. (NYSE:TXT) during the 2nd quarter, Holdings Channel.com reports. The fund bought 1,217,960 shares of the aerospace company’s stock, valued at approximately $111,723,000.

A number of other large investors have also made changes to their positions in TXT. Canada Pension Plan Investment Board purchased a new stake in shares of Textron during the 2nd quarter valued at about $23,793,000. Legal & General Group Plc purchased a new position in shares of Textron in the second quarter worth approximately $78,431,000. The Manufacturers Life Insurance Company purchased a new position in shares of Textron in the second quarter worth approximately $8,045,000. Manning & Napier Advisors LLC bought a new stake in Textron during the second quarter valued at approximately $121,000. Finally, Cibc World Market Inc. purchased a new stake in Textron during the second quarter valued at approximately $6,215,000. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TXT has been the topic of several recent research reports. Morgan Stanley set a $98.00 price target on shares of Textron in a research report on Wednesday, July 29th. Weiss Ratings upgraded Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Textron in a report on Sunday, May 3rd. TD Cowen lowered their target price on Textron from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Finally, UBS Group reissued a “neutral” rating and set a $95.00 price target on shares of Textron in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

Textron Price Performance

NYSE TXT opened at $81.89 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. Textron Inc. has a 12 month low of $78.12 and a 12 month high of $101.57. The stock has a market cap of $14.08 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.19 and a beta of 0.91. The company’s 50 day moving average is $89.19 and its two-hundred day moving average is $91.33.

Textron (NYSE:TXT) last posted its quarterly earnings results on Tuesday, July 28th. The aerospace company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.81 billion. Textron had a net margin of 6.12% and a return on equity of 14.30%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, research analysts anticipate that Textron Inc. will post 6.5 earnings per share for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio is currently 1.51%.

Textron 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.