Gamco Investors INC. ET AL Sells 6,460 Shares of Textron Inc. (NYSE:TXT)

Gamco Investors INC. ET AL lowered its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,444,299 shares of the aerospace company's stock after selling 6,460 shares during the quarter. Textron makes up 1.2% of Gamco Investors INC. ET AL's holdings, making the stock its 11th largest position. Gamco Investors INC. ET AL owned about 0.78% of Textron worth $110,474,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TXT. Invesco Ltd. lifted its stake in Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after purchasing an additional 1,167,105 shares in the last quarter. Boston Partners lifted its holdings in Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Textron by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after acquiring an additional 164,964 shares during the last quarter. Brandes Investment Partners LP grew its position in Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after acquiring an additional 302,712 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Textron by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company's stock worth $128,416,000 after purchasing an additional 7,610 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Analysts Set New Price Targets

TXT has been the topic of several analyst reports. Susquehanna lowered their target price on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Barclays decreased their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Morgan Stanley cut their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, TD Cowen raised Textron to a "hold" rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $89.30.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.70% of the company's stock.

Textron Stock Up 1.6 %

NYSE TXT traded up $1.02 during trading on Friday, reaching $66.00. 1,563,028 shares of the company's stock traded hands, compared to its average volume of 1,189,441. The company's 50 day simple moving average is $70.82 and its two-hundred day simple moving average is $77.78. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $95.86. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06.

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

Textron Announces Dividend

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

About Textron

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.