Gabelli Funds LLC Has $86.30 Million Holdings in Textron Inc. $TXT

Gabelli Funds LLC boosted its stake in Textron Inc. (NYSE:TXT) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 990,040 shares of the aerospace company’s stock after purchasing an additional 12,788 shares during the period. Gabelli Funds LLC’s holdings in Textron were worth $86,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Management Corp VA boosted its position in Textron by 1.0% during the fourth quarter. Capital Management Corp VA now owns 12,477 shares of the aerospace company’s stock valued at $1,088,000 after acquiring an additional 120 shares during the last quarter. Glenmede Investment Management LP boosted its position in shares of Textron by 1.0% during the 3rd quarter. Glenmede Investment Management LP now owns 14,123 shares of the aerospace company’s stock worth $1,193,000 after purchasing an additional 142 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Textron by 18.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 998 shares of the aerospace company’s stock worth $80,000 after purchasing an additional 158 shares in the last quarter. Assetmark Inc. boosted its position in shares of Textron by 52.2% during the 3rd quarter. Assetmark Inc. now owns 493 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 169 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Textron by 0.3% during the 3rd quarter. Arizona State Retirement System now owns 53,256 shares of the aerospace company’s stock worth $4,500,000 after purchasing an additional 172 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. TD Cowen upgraded shares of Textron from a “hold” rating to a “buy” rating in a report on Thursday, April 30th. Morgan Stanley set a $109.00 target price on shares of Textron in a report on Monday, May 4th. Sanford C. Bernstein upped their target price on shares of Textron from $94.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, February 19th. Wells Fargo & Company assumed coverage on shares of Textron in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $92.00 target price on the stock. Finally, Citigroup upped their target price on shares of Textron from $97.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.18.

Insider Activity at Textron

In other news, VP Mark S. Bamford sold 19,808 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $97.96, for a total transaction of $1,940,391.68. Following the completion of the sale, the vice president owned 7,872 shares in the company, valued at $771,141.12. This trade represents a 71.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas A. Kennedy purchased 10,300 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were bought at an average price of $95.98 per share, with a total value of $988,594.00. Following the purchase, the director owned 20,162 shares in the company, valued at $1,935,148.76. The trade was a 104.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 50,381 shares of company stock worth $4,947,754. 1.90% of the stock is currently owned by company insiders.

Textron Trading Up 0.1%

Shares of TXT stock opened at $88.86 on Monday. The company has a 50 day moving average of $90.62 and a 200-day moving average of $89.64. 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 $72.00 and a 12-month high of $101.57. The firm has a market cap of $15.45 billion, a P/E ratio of 16.99, a PEG ratio of 1.33 and a beta of 0.93.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, April 30th. The aerospace company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.15. Textron had a net margin of 6.15% and a return on equity of 14.56%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business posted $1.28 EPS. Textron’s quarterly 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. Sell-side analysts anticipate that Textron Inc. will post 6.6 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, June 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s dividend payout ratio (DPR) is presently 1.53%.

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.