Harrison Shepard ‘24 pitched Textron Inc. (NYSE: TXT) on November 6, 2023. Textron is a global, leading manufacturer of general aviation aircraft, military helicopters, military tiltrotor aircraft, and unmanned military aircraft as well as commercial industrial equipment including golf carts, all-terrain vehicles, and ground support equipment for the aviation industry. The company is headquartered in Providence, RI.
In addition to increasing SMIF’s exposure to the growing aviation industry, Harrison’s investment thesis focused on Textron’s industry-leading aircraft deliveries, the potential outperformance from the company’s recent FLRAA U.S. Army contract victory, and management’s commitment to returning value to shareholders through substantial share repurchase programs. SMIF voted to buy approximately $40,000 of Textron (TXT), funded by the sale of Honeywell (HON), which provided a significant total return to SMIF over its holding period.