Mitsubishi UFJ Trust & Banking Corp Has $22 Million Position in Textron Inc. $TXT

Mitsubishi UFJ Trust & Banking Corp grew its position in Textron Inc. (NYSE:TXT) by 29.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 274,055 shares of the aerospace company’s stock after buying an additional 62,105 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.15% of Textron worth $22,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nuveen LLC bought a new position in Textron during the 1st quarter worth approximately $89,403,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Textron in the second quarter worth $66,446,000. Millennium Management LLC increased its stake in shares of Textron by 128.7% during the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock worth $80,416,000 after purchasing an additional 626,346 shares during the last quarter. Invesco Ltd. raised its stake in Textron by 5.6% in the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock valued at $590,059,000 after acquiring an additional 433,567 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Textron by 110.6% during the first quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company’s stock worth $31,960,000 after acquiring an additional 232,277 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TXT shares. UBS Group lowered their target price on shares of Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Susquehanna increased their price objective on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Textron in a research report on Wednesday, October 8th. Barclays increased their price objective on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $90.00 target price on shares of Textron in a research report on Monday, October 27th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.15.

Textron Price Performance

Shares of TXT stock opened at $80.66 on Friday. The stock has a market capitalization of $14.21 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.30 and a beta of 1.13. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $87.94. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $82.46 and a two-hundred day simple moving average of $79.66.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.08. Textron had a return on equity of 14.16% and a net margin of 5.81%.The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 12th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, December 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s dividend payout ratio is 1.76%.

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.