Gabelli Funds LLC Sells 17,950 Shares of Textron Inc. $TXT

Gabelli Funds LLC reduced its holdings in shares of Textron Inc. (NYSE:TXT) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 972,090 shares of the aerospace company’s stock after selling 17,950 shares during the quarter. Gabelli Funds LLC owned about 0.56% of Textron worth $85,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TXT. Morningstar Investment Management LLC raised its holdings in Textron by 35.2% during the 1st quarter. Morningstar Investment Management LLC now owns 6,594 shares of the aerospace company’s stock valued at $577,000 after acquiring an additional 1,716 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Textron by 19.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 625,911 shares of the aerospace company’s stock worth $54,805,000 after acquiring an additional 101,772 shares during the period. Inceptionr LLC boosted its holdings in shares of Textron by 275.8% in the first quarter. Inceptionr LLC now owns 17,304 shares of the aerospace company’s stock worth $1,515,000 after acquiring an additional 12,699 shares during the period. Sei Investments Co. grew its position in shares of Textron by 30.3% in the first quarter. Sei Investments Co. now owns 180,690 shares of the aerospace company’s stock valued at $15,822,000 after purchasing an additional 42,056 shares in the last quarter. Finally, Lido Advisors LLC grew its position in shares of Textron by 13.6% in the first quarter. Lido Advisors LLC now owns 5,294 shares of the aerospace company’s stock valued at $464,000 after purchasing an additional 632 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Insider Activity at Textron

In related news, Director R Kerry Clark sold 2,517 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total value of $234,307.53. Following the sale, the director directly owned 8,611 shares of the company’s stock, valued at $801,597.99. This trade represents a 22.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas A. Kennedy bought 10,300 shares of the company’s stock in a transaction on Friday, May 1st. The shares were bought at an average price of $95.98 per share, with a total value of $988,594.00. Following the completion of the transaction, the director owned 20,162 shares of the company’s stock, valued at $1,935,148.76. The trade was a 104.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating on shares of Textron in a report on Sunday, May 3rd. JPMorgan Chase & Co. lifted their target price on Textron from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Citigroup upped their price target on Textron from $97.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Wells Fargo & Company initiated coverage on shares of Textron in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $92.00 price target on the stock. Finally, TD Cowen cut their price objective on shares of Textron from $115.00 to $105.00 and set a “hold” rating for the company in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.10.

Textron Trading Up 2.5%

Shares of TXT stock opened at $95.49 on Friday. The company has a market capitalization of $16.60 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90. Textron Inc. has a 52-week low of $75.80 and a 52-week high of $101.57. The business’s fifty day moving average is $91.08 and its 200 day moving average is $92.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.87 and a current ratio of 1.84.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.30 by $0.15. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 14.56% and a net margin of 6.15%.The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. On average, equities research analysts anticipate that Textron Inc. will post 6.6 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s payout ratio is presently 1.53%.

Textron Company Profile

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.