Sumitomo Mitsui Trust Group Inc. Has $41.73 Million Stock Position in Textron Inc. (NYSE:TXT)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Textron Inc. (NYSE:TXT) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 471,039 shares of the aerospace company’s stock after purchasing an additional 4,327 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Textron worth $41,725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TXT. Oppenheimer & Co. Inc. lifted its holdings in Textron by 11.6% in the first quarter. Oppenheimer & Co. Inc. now owns 4,215 shares of the aerospace company’s stock valued at $404,000 after buying an additional 439 shares during the period. US Bancorp DE boosted its position in shares of Textron by 11.8% in the 1st quarter. US Bancorp DE now owns 26,416 shares of the aerospace company’s stock worth $2,534,000 after purchasing an additional 2,785 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Textron by 6.5% during the first quarter. Blair William & Co. IL now owns 5,364 shares of the aerospace company’s stock worth $515,000 after purchasing an additional 326 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Textron by 111.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 249,612 shares of the aerospace company’s stock valued at $23,856,000 after purchasing an additional 131,782 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Textron in the first quarter valued at about $1,061,000. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

Shares of Textron stock opened at $84.91 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24. The stock’s 50-day moving average is $86.39 and its 200-day moving average is $87.29. Textron Inc. has a one year low of $74.13 and a one year high of $97.33.

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

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is 1.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TXT. JPMorgan Chase & Co. decreased their target price on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th. Bank of America boosted their price target on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Robert W. Baird decreased their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.56.

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.