Sumitomo Mitsui Trust Holdings Inc. Sells 14,849 Shares of Textron Inc. (NYSE:TXT)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Textron Inc. (NYSE:TXT) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 516,651 shares of the aerospace company’s stock after selling 14,849 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Textron were worth $41,549,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TXT. Allworth Financial LP increased its holdings in Textron by 12.0% in the 4th 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 raised 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 valued at $333,000 after purchasing an additional 139 shares during the last quarter. Quent Capital LLC raised 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 valued at $51,000 after purchasing an additional 143 shares during the last quarter. Financial Advocates Investment Management lifted its position in Textron by 3.3% during the third quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock valued at $407,000 after purchasing an additional 168 shares during the period. Finally, Greenleaf Trust boosted its holdings in Textron by 4.0% in the third quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock worth $344,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

TXT has been the topic of several research analyst reports. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday. Bank of America raised Textron from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $105.00 in a report 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 shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Finally, Citigroup boosted their target price 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.63.

Textron Price Performance

NYSE TXT opened at $93.30 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.46 and a beta of 1.30. The company’s 50 day moving average is $91.65 and its two-hundred day moving average is $83.38.

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

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, March 14th. Textron’s dividend payout ratio (DPR) is 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.