Textron Inc. (NYSE:TXT) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Textron Inc. (NYSE:TXT) by 96.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,128 shares of the aerospace company’s stock after acquiring an additional 2,022 shares during the quarter. GAMMA Investing LLC’s holdings in Textron were worth $366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TXT. Innealta Capital LLC acquired a new stake in Textron in the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Textron during the 2nd quarter valued at approximately $30,000. Oakworth Capital Inc. acquired a new stake in Textron in the 2nd quarter valued at $31,000. Family Firm Inc. purchased a new stake in Textron in the 2nd quarter worth $40,000. Finally, Truvestments Capital LLC acquired a new position in Textron during the first quarter worth $48,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Up 1.6 %

TXT stock opened at $86.34 on Thursday. Textron Inc. has a one year low of $74.13 and a one year high of $97.33. The firm’s 50 day moving average price is $87.44 and its 200-day moving average price is $88.75. The firm has a market cap of $16.18 billion, a PE ratio of 18.45, a PEG ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. Textron’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Textron Inc. will post 6.18 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid 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 was Friday, September 13th. Textron’s dividend payout ratio (DPR) is 1.71%.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of research reports. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group boosted their price objective on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, Citigroup lifted their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Textron currently has an average rating of “Hold” and a consensus target price of $101.50.

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.