Textron Inc. (NYSE:TXT) is Gamco Investors INC. ET AL’s 7th Largest Position

Gamco Investors INC. ET AL lessened its position in shares of Textron Inc. (NYSE:TXTFree Report) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,616,933 shares of the aerospace company’s stock after selling 66,039 shares during the quarter. Textron accounts for 1.4% of Gamco Investors INC. ET AL’s portfolio, making the stock its 7th biggest holding. Gamco Investors INC. ET AL owned 0.82% of Textron worth $130,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners lifted its stake in shares of Textron by 2.0% during the 4th quarter. Boston Partners now owns 7,016,363 shares of the aerospace company’s stock valued at $564,235,000 after buying an additional 139,927 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Textron by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after acquiring an additional 596,214 shares during the period. Primecap Management Co. CA grew its position in shares of Textron by 9.7% during the third quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock worth $421,503,000 after purchasing an additional 477,720 shares in the last quarter. LSV Asset Management grew its position in shares of Textron by 15.9% during the fourth quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after purchasing an additional 521,276 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Textron by 4.0% during the 3rd quarter. Northern Trust Corp now owns 1,757,258 shares of the aerospace company’s stock valued at $137,312,000 after purchasing an additional 66,999 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Susquehanna dropped their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, April 26th. Citigroup lifted their target price on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $99.29.

Get Our Latest Stock Analysis on Textron

Insider Buying and Selling at Textron

In related news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Textron Stock Performance

Textron stock traded down $0.77 during mid-day trading on Thursday, reaching $85.72. 397,854 shares of the company traded hands, compared to its average volume of 1,142,397. Textron Inc. has a fifty-two week low of $64.42 and a fifty-two week high of $97.33. The firm’s fifty day moving average is $89.44 and its two-hundred day moving average is $86.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28.

Textron (NYSE:TXTGet Free Report) last released its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the company earned $1.05 earnings per share. Textron’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio is currently 1.71%.

Textron Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXTFree Report).

Institutional Ownership by Quarter for Textron (NYSE:TXT)

Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.