Textron Inc. $TXT Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL reduced its stake in Textron Inc. by 0.6%, selling 9,270 shares during the first quarter, retaining approximately 1.1% of its holdings in the aerospace company.
• Textron's recent earnings report showed an EPS of $1.55, exceeding analysts' expectations, with a revenue increase of 5.4% year-over-year.
• The company announced a quarterly dividend of $0.02 per share, representing an annual yield of 0.1%, with the payment set for October 1st.

Gamco Investors INC. ET AL decreased its position in Textron Inc. (NYSE:TXT - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,435,029 shares of the aerospace company's stock after selling 9,270 shares during the period. Textron accounts for approximately 1.1% of Gamco Investors INC. ET AL's investment portfolio, making the stock its 12th largest position. Gamco Investors INC. ET AL owned 0.79% of Textron worth $103,681,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in shares of Textron in the 1st quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd grew its stake in shares of Textron by 100.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock valued at $39,000 after buying an additional 262 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Textron during the 1st quarter worth approximately $41,000. Optiver Holding B.V. purchased a new position in shares of Textron during the 4th quarter worth approximately $56,000. Finally, Federated Hermes Inc. boosted its position in shares of Textron by 48.8% during the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock worth $58,000 after purchasing an additional 263 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insider Buying and Selling

In related news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction on Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the sale, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. This trade represents a 43.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Textron Stock Down 1.7%

Shares of TXT traded down $1.42 during midday trading on Thursday, reaching $80.47. The stock had a trading volume of 935,120 shares, compared to its average volume of 1,208,698. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $91.48. The company's fifty day simple moving average is $80.77 and its two-hundred day simple moving average is $75.05. The company has a market cap 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 has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84.

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

Textron Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TXT. 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. Barclays increased their price objective on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Susquehanna increased 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. Jefferies Financial Group reaffirmed a "buy" rating and set a $95.00 price objective (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Finally, Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Textron currently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Textron 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.