Textron Inc. (NYSE:TXT) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its position in Textron Inc. (NYSE:TXT) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 966,452 shares of the aerospace company’s stock after selling 18,900 shares during the quarter. Gabelli Funds LLC owned approximately 0.52% of Textron worth $73,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pflug Koory LLC raised its holdings in Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after buying an additional 141 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after buying an additional 163 shares in the last quarter. Motley Fool Asset Management LLC increased its holdings in Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock valued at $209,000 after acquiring an additional 163 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in Textron by 4.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock valued at $327,000 after acquiring an additional 169 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TXT shares. Morgan Stanley reduced their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a report on Friday. Barclays decreased their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Susquehanna decreased their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Textron has an average rating of “Moderate Buy” and a consensus price target of $92.09.

Textron Stock Performance

Shares of NYSE TXT opened at $65.97 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $71.53 and its two-hundred day moving average price is $78.26. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $95.86. The stock has a market capitalization of $11.98 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business earned $1.60 EPS. The firm’s revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. Textron’s payout ratio is currently 1.86%.

Insider Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.