GAMMA Investing LLC Buys 254 Shares of Textron Inc. (NYSE:TXT)

GAMMA Investing LLC lifted its stake in Textron Inc. (NYSE:TXT) by 23.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,353 shares of the aerospace company’s stock after purchasing an additional 254 shares during the period. GAMMA Investing LLC’s holdings in Textron were worth $130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TXT. CVA Family Office LLC bought a new position in shares of Textron in the 4th quarter worth $29,000. Trust Co. of Vermont bought a new position in shares of Textron in the 3rd quarter worth $37,000. Morton Brown Family Wealth LLC bought a new position in shares of Textron in the 4th quarter worth $40,000. Jones Financial Companies Lllp boosted its position in shares of Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 338 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Textron by 677.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 474 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

TXT opened at $86.74 on Friday. The business’s 50-day moving average price is $87.93 and its two-hundred day moving average price is $86.68. Textron Inc. has a 1 year low of $64.42 and a 1 year high of $97.33. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84.

Textron (NYSE:TXT) last released its quarterly 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 prior year, the business earned $1.05 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts expect that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Textron

In related news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the sale, the director now owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.

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.