Sumitomo Mitsui Trust Group Inc. Raises Stock Position in Textron Inc. (NYSE:TXT)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Textron Inc. (NYSE:TXT) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 475,420 shares of the aerospace company’s stock after buying an additional 4,381 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Textron worth $36,365,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Merit Financial Group LLC grew its stake in shares of Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after buying an additional 265 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after acquiring an additional 15,294 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Textron in the 4th quarter worth about $11,523,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Textron in the 3rd quarter worth about $828,000. Finally, Easterly Investment Partners LLC lifted its holdings in shares of Textron by 87.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after acquiring an additional 19,304 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TXT shares. JPMorgan Chase & Co. lowered their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Thursday, December 19th. Susquehanna lowered their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Citigroup decreased their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Trading Up 0.1 %

NYSE TXT opened at $74.03 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27. The company’s 50-day simple moving average is $77.78 and its two-hundred day simple moving average is $83.58. Textron Inc. has a one year low of $73.50 and a one year high of $97.33.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the firm posted $1.60 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts forecast that Textron Inc. will post 6.1 EPS for the current fiscal year.

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.