Gabelli Funds LLC Sells 18,900 Shares of Textron Inc. (NYSE:TXT)

Gabelli Funds LLC decreased its stake in Textron Inc. (NYSE:TXT - Free Report) by 1.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 966,452 shares of the aerospace company's stock after selling 18,900 shares during the quarter. Gabelli Funds LLC owned 0.52% of Textron worth $73,924,000 as of its most recent filing with the Securities & Exchange Commission.

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

Textron Trading Up 1.6 %

NYSE:TXT traded up $1.02 during mid-day trading on Friday, hitting $66.00. The company had a trading volume of 1,563,028 shares, compared to its average volume of 1,187,931. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $95.86. The firm has a market cap of $11.99 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.18 and a beta of 1.06. The business's fifty day moving average is $70.82 and its two-hundred day moving average is $77.78.

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

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.02 dividend. 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 Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TXT shares. Morgan Stanley cut their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. cut 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 shares of Textron to a "hold" rating in a research report on Monday, February 24th. 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.