Gamco Investors INC. ET AL Sells 88,642 Shares of Textron Inc. $TXT

Key Points

• Gamco Investors trimmed its Textron stake by 6.4% in the first quarter, selling 88,642 shares and leaving it with 1.29 million shares worth about $113.1 million.
• Insider activity was mixed: Director R. Kerry Clark sold shares, while Director Thomas A. Kennedy bought 10,300 shares, increasing his ownership significantly.
• Textron reported strong quarterly results, beating EPS and revenue estimates, and analysts currently rate the stock a Moderate Buy with an average price target of $103.10.

Gamco Investors INC. ET AL reduced its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,292,180 shares of the aerospace company's stock after selling 88,642 shares during the period. Textron accounts for about 1.1% of Gamco Investors INC. ET AL's holdings, making the stock its 11th biggest position. Gamco Investors INC. ET AL owned approximately 0.74% of Textron worth $113,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Textron by 13.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,522 shares of the aerospace company's stock valued at $1,049,000 after buying an additional 1,709 shares during the period. Empowered Funds LLC raised its position in Textron by 6.3% in the first quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company's stock worth $1,546,000 after acquiring an additional 1,265 shares during the period. Focus Partners Wealth grew its position in shares of Textron by 18.0% during the 1st quarter. Focus Partners Wealth now owns 4,814 shares of the aerospace company's stock valued at $348,000 after acquiring an additional 735 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Textron during the 2nd quarter valued at approximately $453,000. Finally, Baird Financial Group Inc. increased its stake in shares of Textron by 15.3% during the 2nd quarter. Baird Financial Group Inc. now owns 19,171 shares of the aerospace company's stock worth $1,539,000 after purchasing an additional 2,548 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director R Kerry Clark sold 2,517 shares of Textron stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total transaction of $234,307.53. Following the completion of the sale, the director directly owned 8,611 shares of the company's stock, valued at approximately $801,597.99. The trade was a 22.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas A. Kennedy bought 10,300 shares of Textron stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $95.98 per share, for a total transaction of $988,594.00. Following the purchase, the director owned 20,162 shares of the company's stock, valued at $1,935,148.76. The trade was a 104.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.90% of the company's stock.

Textron Price Performance

Shares of NYSE TXT opened at $95.49 on Friday. The stock's 50-day simple moving average is $91.08 and its two-hundred day simple moving average is $92.04. Textron Inc. has a twelve month low of $75.80 and a twelve month high of $101.57. The firm has a market capitalization of $16.60 billion, a P/E ratio of 18.26, a P/E/G ratio of 1.39 and a beta of 0.90. 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 (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.30 by $0.15. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 14.56% and a net margin of 6.15%.Textron's revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, equities analysts anticipate that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron's dividend payout ratio is presently 1.53%.

Analysts Set New Price Targets

Several research firms recently commented on TXT. Jefferies Financial Group reiterated a "buy" rating on shares of Textron in a research note on Sunday, May 3rd. Wall Street Zen raised Textron from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. UBS Group boosted their target price on Textron from $99.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Citigroup increased their price target on Textron from $97.00 to $99.00 and gave the stock a "neutral" rating in a research note on Thursday, April 2nd. Finally, Morgan Stanley set a $97.00 price objective on Textron in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.10.

About Textron

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.

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