Fifth Third Bancorp Acquires 12,696 Shares of Textron Inc. $TXT

Fifth Third Bancorp increased its holdings in shares of Textron Inc. (NYSE:TXT) by 175.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,913 shares of the aerospace company’s stock after purchasing an additional 12,696 shares during the quarter. Fifth Third Bancorp’s holdings in Textron were worth $1,744,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TXT. Goldman Sachs Group Inc. raised its holdings in Textron by 22.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,191,811 shares of the aerospace company’s stock worth $103,890,000 after acquiring an additional 218,201 shares in the last quarter. New York State Teachers Retirement System grew its stake in 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 valued at $13,641,000 after purchasing an additional 15,159 shares in the last quarter. Econ Financial Services Corp bought a new position in Textron in the fourth quarter valued at approximately $1,879,000. National Pension Service increased its position in shares of Textron by 17.5% during the 4th quarter. National Pension Service now owns 98,656 shares of the aerospace company’s stock worth $8,600,000 after purchasing an additional 14,701 shares during the last quarter. Finally, Bfsg LLC bought a new stake in shares of Textron during the 4th quarter worth approximately $7,255,000. Institutional investors own 86.03% of the company’s stock.

Insider Activity

In related news, Director R Kerry Clark sold 2,517 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $801,597.99. This represents a 22.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Kennedy purchased 10,300 shares of the stock in a transaction on Friday, May 1st. The stock was bought at an average cost 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 in the company, valued at approximately $1,935,148.76. This trade represents a 104.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.90% of the stock is owned by corporate insiders.

Textron Stock Performance

TXT opened at $91.74 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.84 and a debt-to-equity ratio of 0.43. Textron Inc. has a 12-month low of $75.80 and a 12-month high of $101.57. The business has a 50 day moving average of $90.91 and a 200-day moving average of $91.98. The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.35 and a beta of 0.90.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.15. Textron had a return on equity of 14.56% and a net margin of 6.15%.The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the firm earned $1.28 EPS. The firm’s 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. On average, equities research analysts expect that Textron Inc. will post 6.6 earnings per share for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, June 12th. Textron’s payout ratio is currently 1.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TXT shares. Wells Fargo & Company began coverage on Textron in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $92.00 price objective for the company. TD Cowen lowered their target price on shares of Textron from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, July 13th. JPMorgan Chase & Co. upped their price target on shares of Textron from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Morgan Stanley set a $97.00 price target on shares of Textron in a research note on Wednesday, July 15th. Finally, UBS Group lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.10.

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.