Citigroup Adjusts Price Target on Textron to $86 From $99

Corteva has split into two companies, with four more large separations expected. Madison Square Garden Sports (MSGS) will split Knicks and Rangers by late 2026. Keurig Dr Pepper (KDP) plans a 2027 split. Comcast (CMCSA) will spin off NBCUniversal. Textron (TXT) may sell its Industrial segment. Spinoffs give shareholders new stocks, while sales leave decisions with management.

Nigeria's air force chief attended the start of production for 12 Bell AH-1Z Viper attack helicopters at a Texas plant. The $455M contract, part of a $997M program, includes aircraft, engines, weapons, and support. Delivery is expected by early 2029.

TXT e-Solutions Spa agreed to acquire 100% of FMA Investment Holding Srl, which manages IT infrastructure and develops applications. The deal, part of TXT's industrial plan, is expected to close by 2026. FMA reported 2025 revenue of €6.7m and adjusted EBITDA of €1.5m. TXT will pay 75% cash and 25% shares for 88% stake, with the remaining 12% subject to a call option. TXT shares closed up 2.3% at €54.00.

The U.S. Department of Defense announced arms sales to Saudi Arabia, Iraq, and Somalia, totaling $5.75 billion. Boeing and Honeywell are primary contractors. The sales include JDAM-ER munitions, AGT 1500 matoorro, and Bell 412EPX helicopters. Rising tensions in the Middle East and oil price increases are noted as factors.

The U.S. approved nearly $7 billion in foreign military sales, including a $5 billion deal with Saudi Arabia for JDAM-ER kits and bombs, and a $1 billion helicopter deal with Iraq. Boeing is involved in the production.

Textron Systems won two Navy task orders for drone ISR services, worth up to $85M total. The contracts support 7th Fleet and other U.S. forces, with services spanning five years. Textron will use its Aerosonde Mk. 4.7 VTOL drone, offering various sensing capabilities. The Navy's initiative has an estimated $819M value over five years.