Textron Inc. $TXT Shares Purchased by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its position in Textron Inc. by 0.8% to approximately $70.37 million, owning 973,952 shares by the end of the first quarter.
• Analysts have given Textron a consensus rating of "Moderate Buy" with a target price of $92.67, influenced by recent upgrades from brokerages like Barclays and UBS.
• Textron reported $1.55 EPS for the last quarter, exceeding the consensus estimate of $1.45, and had revenues of $3.72 billion, up 5.4% year-over-year.

Gabelli Funds LLC raised its stake in Textron Inc. (NYSE:TXT - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 973,952 shares of the aerospace company's stock after buying an additional 7,500 shares during the period. Gabelli Funds LLC owned about 0.54% of Textron worth $70,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Banque Cantonale Vaudoise bought a new position in shares of Textron during the 1st quarter worth $25,000. Harvest Fund Management Co. Ltd lifted its stake in Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock worth $39,000 after acquiring an additional 262 shares during the period. Zions Bancorporation National Association UT bought a new position in Textron during the 1st quarter worth about $41,000. Optiver Holding B.V. purchased a new position in Textron during the 4th quarter valued at about $56,000. Finally, Federated Hermes Inc. raised its holdings in shares of Textron by 48.8% in the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock valued at $58,000 after purchasing an additional 263 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group upgraded Textron from a "sell" rating to a "neutral" rating and lifted their price target for the company from $73.00 to $88.00 in a report on Monday, July 28th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $85.00 price objective (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 target price (up from $85.00) on shares of Textron in a report on Thursday, June 12th. Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Susquehanna lifted their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Textron presently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Insider Activity

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the transaction, the executive vice president owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Textron Stock Performance

NYSE:TXT traded down $1.42 during trading hours on Thursday, hitting $80.47. 935,120 shares of the company were exchanged, compared to its average volume of 1,208,698. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $91.48. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.34 and a beta of 1.16. The company's 50 day moving average price is $80.77 and its 200-day moving average price is $75.05.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%.The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's payout ratio is currently 1.81%.

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.