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

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Textron Inc. (NYSE:TXT - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. 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 reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in shares of Textron by 12.0% during the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company's stock worth $103,000 after buying an additional 137 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Textron by 2.9% during the second quarter. Kestra Advisory Services LLC now owns 4,930 shares of the aerospace company's stock worth $333,000 after buying an additional 139 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company's stock worth $51,000 after buying an additional 143 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Textron by 3.3% during the third quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company's stock worth $407,000 after buying an additional 168 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in shares of Textron by 4.0% during the third quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company's stock worth $344,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analysts Set New Price Targets

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

Textron Stock Up 0.8 %

Shares of TXT stock traded up $0.72 during trading hours on Friday, reaching $93.30. 1,272,187 shares of the stock were exchanged, compared to its average volume of 1,008,303. The business's fifty day moving average is $91.65 and its two-hundred day moving average is $83.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33. The firm has a market capitalization 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.

Textron (NYSE:TXT - Get Free Report) last released its 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. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, research analysts expect that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

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

Textron 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.