Gateway Investment Advisers LLC Sells 636 Shares of Textron Inc. (NYSE:TXT)

Gateway Investment Advisers LLC lessened its position in Textron Inc. (NYSE:TXT) by 18.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,888 shares of the aerospace company’s stock after selling 636 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Textron were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Strong Tower Advisory Services lifted its holdings in Textron by 9.9% during the 1st quarter. Strong Tower Advisory Services now owns 13,705 shares of the aerospace company’s stock valued at $1,306,000 after buying an additional 1,231 shares in the last quarter. Radnor Capital Management LLC lifted its holdings in Textron by 1.5% during the 1st quarter. Radnor Capital Management LLC now owns 14,695 shares of the aerospace company’s stock valued at $1,410,000 after buying an additional 220 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in Textron by 1.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 16,946 shares of the aerospace company’s stock valued at $1,625,000 after buying an additional 230 shares in the last quarter. CHURCHILL MANAGEMENT Corp lifted its holdings in Textron by 31.9% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 171,899 shares of the aerospace company’s stock valued at $16,490,000 after buying an additional 41,575 shares in the last quarter. Finally, Greenfield Savings Bank bought a new stake in Textron during the 1st quarter valued at about $258,000. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

TXT opened at $86.54 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The firm has a fifty day moving average price of $87.56 and a 200 day moving average price of $86.90. Textron Inc. has a 1 year low of $65.01 and a 1 year high of $97.33. The stock has a market cap of $16.50 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.37 and a beta of 1.28.

Textron (NYSE:TXT) last posted its 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 quarter in the prior year, the firm earned $1.05 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th 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 is Friday, June 14th. Textron’s dividend payout ratio is presently 1.71%.

Wall Street Analyst Weigh In

TXT has been the subject of a number of research analyst reports. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $105.00 in a report on Friday, March 8th. Susquehanna cut their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Citigroup raised their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. The Goldman Sachs Group raised their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

Insiders Place Their Bets

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by company insiders.

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.