Gateway Investment Advisers LLC cut its holdings in shares of Textron Inc. (NYSE:TXT) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,952 shares of the aerospace company’s stock after selling 825 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Textron were worth $504,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in TXT. Levin Capital Strategies L.P. bought a new position in shares of Textron during the fourth quarter worth approximately $66,381,000. Oregon Public Employees Retirement Fund boosted its position in shares of Textron by 4,444.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,274,199 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 1,246,159 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Textron by 406.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 799,985 shares of the aerospace company’s stock worth $36,792,000 after acquiring an additional 641,926 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Textron by 191.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 945,000 shares of the aerospace company’s stock worth $43,461,000 after acquiring an additional 621,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Textron by 29.6% during the 4th quarter. Bank of New York Mellon Corp now owns 2,701,623 shares of the aerospace company’s stock worth $124,248,000 after acquiring an additional 617,437 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors.
In other Textron news, VP Mark S. Bamford sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $54.75, for a total value of $246,375.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Scott C. Donnelly sold 230,654 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $55.04, for a total transaction of $12,695,196.16. Following the completion of the sale, the chairman now owns 707,495 shares in the company, valued at approximately $38,940,524.80. The disclosure for this sale can be found here. Insiders sold 458,112 shares of company stock worth $25,222,635 in the last 90 days. Company insiders own 1.40% of the company’s stock.
Textron (NYSE:TXT) last issued its earnings results on Wednesday, April 17th. The aerospace company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Textron had a net margin of 8.75% and a return on equity of 15.51%. The firm had revenue of $31.09 million for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s quarterly revenue was down 99.1% on a year-over-year basis. Equities analysts anticipate that Textron Inc. will post 3.67 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. Textron’s dividend payout ratio is currently 2.40%.
TXT has been the topic of several analyst reports. ValuEngine lowered shares of Textron from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. TheStreet lowered shares of Textron from a “b” rating to a “c+” rating in a research report on Friday, January 4th. Jefferies Financial Group set a $59.00 price target on shares of Textron and gave the stock a “buy” rating in a research report on Tuesday, January 8th. Susquehanna Bancshares initiated coverage on shares of Textron in a research report on Thursday, January 10th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Textron from a “sell” rating to a “hold” rating and set a $59.00 price target on the stock in a research report on Saturday, January 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $66.08.
Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.
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