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

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brandes Investment Partners LP boosted its stake in shares of Textron by 20.0% during the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after buying an additional 258,778 shares during the last quarter. AQR Capital Management LLC grew its holdings in Textron by 18.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after acquiring an additional 231,173 shares in the last quarter. Fidelity National Financial Inc. bought a new stake in shares of Textron in the 2nd quarter worth about $19,748,000. Distillate Capital Partners LLC raised its stake in shares of Textron by 101,299.4% in the 2nd quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock valued at $14,278,000 after purchasing an additional 166,131 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after purchasing an additional 160,923 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TXT. JPMorgan Chase & Co. cut their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Barclays decreased their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Monday. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, UBS Group dropped their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Textron Stock Performance

TXT 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 business’s 50 day moving average is $81.73 and its 200-day moving average is $85.63. The stock has a market cap of $14.02 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. Textron Inc. has a twelve month low of $75.00 and a twelve month high of $97.33.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the firm earned $1.49 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

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