GAMMA Investing LLC Purchases 214,816 Shares of Textron Inc. (NYSE:TXT)

GAMMA Investing LLC increased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 6,952.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 217,906 shares of the aerospace company's stock after acquiring an additional 214,816 shares during the period. GAMMA Investing LLC owned approximately 0.12% of Textron worth $15,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Textron in the 4th quarter worth $31,000. Optiver Holding B.V. bought a new position in shares of Textron in the 4th quarter worth $56,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after buying an additional 465 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Textron in the 4th quarter worth $63,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Textron in the 4th quarter worth $68,000. Institutional investors own 86.03% of the company's stock.

Textron Trading Up 1.6%

Shares of TXT opened at $75.67 on Friday. The stock has a market capitalization of $13.66 billion, a P/E ratio of 17.56, a PEG ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $70.20 and a two-hundred day simple moving average of $74.58. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. The business had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 EPS. On average, research analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron's payout ratio is currently 1.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TXT shares. Morgan Stanley decreased their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. TD Cowen raised shares of Textron to a "hold" rating in a report on Monday, February 24th. Citigroup reduced their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group increased their target price on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Textron presently has a consensus rating of "Hold" and a consensus price target of $87.70.

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.

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