Gabelli Funds LLC Has $84.38 Million Holdings in Textron Inc. (NYSE:TXT)

Gabelli Funds LLC trimmed its position in shares of Textron Inc. (NYSE:TXT) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 982,730 shares of the aerospace company’s stock after selling 300 shares during the quarter. Textron accounts for approximately 0.6% of Gabelli Funds LLC’s portfolio, making the stock its 27th largest holding. Gabelli Funds LLC owned about 0.52% of Textron worth $84,377,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Textron during the second quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Textron during the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. bought a new position in shares of Textron in the second quarter valued at approximately $31,000. Family Firm Inc. purchased a new position in Textron in the second quarter worth $40,000. Finally, Jones Financial Companies Lllp grew its position in Textron by 200.0% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after buying an additional 338 shares during the period. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TXT shares. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Citigroup upped their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group boosted their target price on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Finally, TD Cowen raised their price target on Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.50.

Textron Trading Down 1.2 %

Shares of Textron stock opened at $87.91 on Friday. The company has a 50 day simple moving average of $88.80 and a two-hundred day simple moving average of $89.32. The firm has a market cap of $16.76 billion, a PE ratio of 18.78, a PEG ratio of 1.40 and a beta of 1.23. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81.

Textron (NYSE:TXT) last announced its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts expect that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s payout ratio is currently 1.71%.

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.