GAMMA Investing LLC Reduces Holdings in Textron Inc. (NYSE:TXT)

GAMMA Investing LLC lessened its holdings in Textron Inc. (NYSE:TXT) by 25.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,090 shares of the aerospace company’s stock after selling 1,038 shares during the period. GAMMA Investing LLC’s holdings in Textron were worth $236,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. lifted its stake in Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after buying an additional 15,294 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Textron during the third quarter valued at $828,000. Easterly Investment Partners LLC increased its position in Textron by 87.7% during the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after purchasing an additional 19,304 shares in the last quarter. KBC Group NV acquired a new position in Textron in the 3rd quarter valued at about $1,797,000. Finally, National Bank of Canada FI lifted its holdings in Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after purchasing an additional 89,724 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TXT. JPMorgan Chase & Co. reduced their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Robert W. Baird lowered their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. UBS Group reduced their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, TD Cowen raised shares of Textron to a “hold” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.00.

Textron Stock Performance

Shares of TXT stock opened at $75.58 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The company has a market cap of $14.02 billion, a PE ratio of 16.61, a P/E/G ratio of 1.46 and a beta of 1.27. The company’s fifty day simple moving average is $81.73 and its 200-day simple moving average is $85.63. Textron Inc. has a 52 week low of $75.00 and a 52 week high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.49 EPS. As a group, equities research analysts anticipate that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s payout ratio is currently 1.76%.

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.