Sumitomo Mitsui Trust Holdings Inc. Has $41.55 Million Stake in Textron Inc. (NYSE:TXT)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of Textron Inc. (NYSE:TXT) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 516,651 shares of the aerospace company’s stock after selling 14,849 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of Textron worth $41,549,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TXT. JPMorgan Chase & Co. raised its stake in Textron by 27.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,596,887 shares of the aerospace company’s stock worth $324,678,000 after buying an additional 997,119 shares during the period. Man Group plc acquired a new position in shares of Textron during the fourth quarter worth approximately $64,467,000. Adage Capital Partners GP L.L.C. raised its position in shares of Textron by 93.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after purchasing an additional 713,169 shares during the period. Swiss National Bank bought a new position in shares of Textron in the 3rd quarter worth $50,696,000. Finally, BlackRock Inc. grew its position in Textron by 2.9% in the 1st quarter. BlackRock Inc. now owns 18,231,026 shares of the aerospace company’s stock valued at $1,287,657,000 after purchasing an additional 519,468 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Up 0.8 %

TXT stock opened at $93.30 on Friday. The stock has a market cap of $17.95 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.46 and a beta of 1.30. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $91.65 and its two-hundred day simple moving average is $83.38. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the firm earned $1.07 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s payout ratio is currently 1.75%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TXT. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. UBS Group increased their price objective on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. The Goldman Sachs Group lifted their target price on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Citigroup increased their price target on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.63.

About Textron

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.