GABELLI & Co INVESTMENT ADVISERS INC. Sells 300 Shares of Textron Inc. (NYSE:TXT)

GABELLI & Co INVESTMENT ADVISERS INC. reduced its stake in shares of Textron Inc. (NYSE:TXT) by 8.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,300 shares of the aerospace company’s stock after selling 300 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Textron were worth $265,000 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 TXT. Adage Capital Partners GP L.L.C. grew its position in shares of Textron by 93.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock valued at $115,193,000 after acquiring an additional 713,169 shares during the period. Swiss National Bank bought a new position in shares of Textron during the 3rd quarter valued at $50,696,000. JPMorgan Chase & Co. grew its holdings in shares of Textron by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after purchasing an additional 596,214 shares during the last quarter. LSV Asset Management grew its holdings in shares of Textron by 15.9% during the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after purchasing an additional 521,276 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Textron during the 4th quarter valued at $394,347,000. 86.03% of the stock is owned by institutional investors.

Textron Trading Down 0.5 %

Shares of TXT traded down $0.46 during trading hours on Wednesday, reaching $86.55. 736,704 shares of the company traded hands, compared to its average volume of 1,165,688. The company’s fifty day moving average price is $90.39 and its two-hundred day moving average price is $85.95. The company has a market capitalization of $16.51 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.38 and a beta of 1.28. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. Textron Inc. has a 12 month low of $63.05 and a 12 month high of $97.33.

Textron (NYSE:TXT) last announced its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 EPS. Equities research analysts predict that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s payout ratio is 1.71%.

Analysts Set New Price Targets

Several equities analysts recently commented on TXT shares. Susquehanna reduced their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, April 26th. The Goldman Sachs Group increased their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup increased their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $105.00 in a report on Friday, March 8th. Finally, StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.29.

Insider Activity at Textron

In related news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares of the company’s stock, valued at approximately $330,189.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.