Mitsubishi UFJ Asset Management Co. Ltd. Purchases 48,055 Shares of Textron Inc. (NYSE:TXT)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,658 shares of the aerospace company's stock after purchasing an additional 48,055 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Textron worth $25,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC increased its holdings in Textron by 8,962.5% in the first quarter. Headlands Technologies LLC now owns 2,900 shares of the aerospace company's stock valued at $210,000 after buying an additional 2,868 shares in the last quarter. Deutsche Bank AG boosted its position in Textron by 0.7% during the first quarter. Deutsche Bank AG now owns 533,702 shares of the aerospace company's stock worth $38,560,000 after acquiring an additional 3,824 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Textron in the 1st quarter valued at about $2,110,000. Jupiter Asset Management Ltd. acquired a new position in Textron in the 1st quarter valued at about $545,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Textron in the 1st quarter worth approximately $304,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Performance

NYSE TXT traded up $0.92 on Tuesday, hitting $78.50. The stock had a trading volume of 1,263,922 shares, compared to its average volume of 1,925,626. The company's 50-day moving average is $79.86 and its two-hundred day moving average is $74.67. Textron Inc. has a one year low of $57.70 and a one year high of $91.48. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.27 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. On average, analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's dividend payout ratio (DPR) is currently 1.81%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TXT shares. UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and increased their target price for the stock from $73.00 to $88.00 in a report on Monday, July 28th. Barclays increased their target price on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Morgan Stanley increased their target price on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group reiterated a "neutral" rating and set a $85.00 price target (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group restated a "buy" rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $92.67.

Insider Activity at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the sale, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.

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.