GAMMA Investing LLC Purchases Shares of 1,099 Textron Inc. (NYSE:TXT)

GAMMA Investing LLC purchased a new stake in Textron Inc. (NYSE:TXT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,099 shares of the aerospace company’s stock, valued at approximately $93,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TXT. Adage Capital Partners GP L.L.C. boosted its position in Textron by 93.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock valued at $115,193,000 after buying an additional 713,169 shares in the last quarter. Swiss National Bank acquired a new position in Textron in the third quarter valued at about $50,696,000. JPMorgan Chase & Co. boosted its position in Textron by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after buying an additional 596,214 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Textron during the fourth quarter worth approximately $394,347,000. Finally, Primecap Management Co. CA lifted its position in shares of Textron by 9.7% during the third quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock worth $421,503,000 after purchasing an additional 477,720 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Trading Down 0.1 %

Shares of NYSE TXT opened at $86.40 on Tuesday. The company’s 50 day simple moving average is $92.12 and its 200 day simple moving average is $83.98. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The firm has a market capitalization of $16.48 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84.

Textron (NYSE:TXT) last issued its earnings results on Thursday, April 25th. The aerospace company reported $1.20 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 the consensus estimate of $3.29 billion. During the same period in the previous year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that Textron Inc. will post 6.29 EPS for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s payout ratio is presently 1.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. UBS Group upped their target price on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Susquehanna reduced 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and an average target price of $95.63.

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.