Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Textron Inc. (NYSE:TXT – Get Rating) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 633,133 shares of the aerospace company’s stock after selling 3,784 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.30% of Textron worth $36,886,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Yousif Capital Management LLC lifted its position in Textron by 0.7% during the 1st quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company’s stock valued at $1,985,000 after purchasing an additional 175 shares during the period. Concord Wealth Partners increased its stake in shares of Textron by 24.6% in the 2nd quarter. Concord Wealth Partners now owns 897 shares of the aerospace company’s stock valued at $55,000 after acquiring an additional 177 shares during the last quarter. Pictet Asset Management SA increased its stake in shares of Textron by 0.6% in the 2nd quarter. Pictet Asset Management SA now owns 31,993 shares of the aerospace company’s stock valued at $1,954,000 after acquiring an additional 182 shares during the last quarter. Allworth Financial LP increased its stake in shares of Textron by 53.0% in the 2nd quarter. Allworth Financial LP now owns 560 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 194 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Textron by 1.0% in the 2nd quarter. US Bancorp DE now owns 20,531 shares of the aerospace company’s stock valued at $1,253,000 after acquiring an additional 200 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
TXT has been the subject of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on Textron in a research note on Tuesday, September 13th. They issued a “market perform” rating for the company. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 6th. The Goldman Sachs Group increased their target price on Textron from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, December 15th. Finally, Morgan Stanley cut their price target on Textron from $90.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, October 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and an average price target of $81.67.
Textron Stock Performance
Shares of TXT opened at $70.26 on Wednesday. The stock’s 50-day simple moving average is $70.12 and its 200 day simple moving average is $65.35. The stock has a market capitalization of $14.67 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.17 and a current ratio of 2.22. Textron Inc. has a 52-week low of $57.11 and a 52-week high of $79.45.
Textron (NYSE:TXT – Get Rating) last announced its earnings results on Thursday, October 27th. The aerospace company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.12. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.21 billion. Textron had a return on equity of 12.40% and a net margin of 6.71%. Research analysts forecast that Textron Inc. will post 4.02 EPS for the current fiscal year.
Textron Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Investors of record on Friday, December 9th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Thursday, December 8th. Textron’s dividend payout ratio is presently 2.07%.
About Textron
Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company’s 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.
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