Gabelli Funds LLC Lowers Stake in Textron Inc. (NYSE:TXT)

Gabelli Funds LLC lessened its stake in Textron Inc. (NYSE:TXT - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 966,452 shares of the aerospace company's stock after selling 18,900 shares during the quarter. Gabelli Funds LLC owned about 0.52% of Textron worth $73,924,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pflug Koory LLC increased its stake in shares of Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock worth $1,054,000 after acquiring an additional 125 shares during the last quarter. V Square Quantitative Management LLC increased its position in Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after purchasing an additional 141 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock worth $228,000 after purchasing an additional 163 shares during the period. Motley Fool Asset Management LLC boosted its holdings in Textron by 6.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after purchasing an additional 163 shares during the last quarter. Finally, Foundations Investment Advisors LLC grew its stake in shares of Textron by 4.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock valued at $327,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Up 1.6 %

NYSE:TXT traded up $1.02 during midday trading on Friday, reaching $66.00. The company had a trading volume of 1,563,028 shares, compared to its average volume of 1,189,109. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $95.86. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.18 and a beta of 1.06. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock's fifty day simple moving average is $70.82 and its 200-day simple moving average is $77.71.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter last year, the business posted $1.60 EPS. The business's quarterly revenue was down 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.02 per share. The ex-dividend date was Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. Textron's dividend payout ratio (DPR) is currently 1.86%.

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

TXT has been the topic of several analyst reports. TD Cowen raised shares of Textron to a "hold" rating in a research report on Monday, February 24th. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and reduced their target price for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Citigroup cut their price objective on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Robert W. Baird reduced their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Finally, Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Textron presently has an average rating of "Hold" and an average price target of $89.30.

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.