GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Textron Inc. (NYSE:TXT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,900 shares of the aerospace company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Parkside Financial Bank & Trust grew its holdings in Textron by 0.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after buying an additional 26 shares during the period. Intrust Bank NA grew its holdings in Textron by 0.6% in the 2nd quarter. Intrust Bank NA now owns 5,892 shares of the aerospace company’s stock valued at $277,000 after buying an additional 33 shares during the period. Veritable L.P. grew its holdings in Textron by 0.3% in the 2nd quarter. Veritable L.P. now owns 12,868 shares of the aerospace company’s stock valued at $606,000 after buying an additional 44 shares during the period. Canandaigua National Bank & Trust Co. grew its holdings in Textron by 1.6% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock valued at $227,000 after buying an additional 75 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Textron by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 25,070 shares of the aerospace company’s stock valued at $1,181,000 after buying an additional 98 shares during the period. Institutional investors own 81.94% of the company’s stock.

Textron Inc. (NYSE TXT) traded up $0.12 during trading on Tuesday, reaching $54.56. The company had a trading volume of 33,105 shares, compared to its average volume of 1,670,000. The firm has a market cap of $14,370.00, a price-to-earnings ratio of 21.73, a PEG ratio of 2.51 and a beta of 1.57. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67. Textron Inc. has a 12-month low of $39.85 and a 12-month high of $55.80.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. Textron’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. sell-side analysts anticipate that Textron Inc. will post 2.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s dividend payout ratio (DPR) is presently 3.45%.

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Several analysts have commented on TXT shares. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price target on shares of Textron in a report on Tuesday, September 26th. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Thursday, September 21st. Drexel Hamilton upgraded Textron from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Monday, September 11th. ValuEngine upgraded Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Finally, Cowen and Company reiterated a “buy” rating and set a $60.00 target price on shares of Textron in a report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.92.

Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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