GABELLI & Co INVESTMENT ADVISERS INC. Purchases Shares of 3,900 Textron Inc. (TXT)
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%.
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.
Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT).
Receive News & Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.