Textron Inc. (TXT) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Textron Inc. (NYSE:TXT) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 744,520 shares of the aerospace company’s stock after buying an additional 16,659 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Textron worth $35,067,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the stock. Cleararc Capital Inc. raised its position in shares of Textron by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,098 shares of the aerospace company’s stock valued at $290,000 after buying an additional 16 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Textron by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after buying an additional 26 shares in the last quarter. YHB Investment Advisors Inc. raised its position in shares of Textron by 1.3% in the first quarter. YHB Investment Advisors Inc. now owns 7,398 shares of the aerospace company’s stock valued at $345,000 after buying an additional 98 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Textron by 0.4% in the second quarter. CIBC Asset Management Inc now owns 25,070 shares of the aerospace company’s stock valued at $1,181,000 after buying an additional 98 shares in the last quarter. Finally, Conning Inc. raised its position in shares of Textron by 1.7% in the second quarter. Conning Inc. now owns 5,997 shares of the aerospace company’s stock valued at $282,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 81.50% of the company’s stock.
Textron Inc. (NYSE:TXT) opened at 48.09 on Tuesday. The firm’s 50-day moving average price is $48.78 and its 200-day moving average price is $47.72. Textron Inc. has a 52-week low of $37.19 and a 52-week high of $50.93. The firm has a market cap of $12.73 billion, a P/E ratio of 14.70 and a beta of 1.56.
Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. Equities research analysts expect that Textron Inc. will post $2.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.17%. Textron’s dividend payout ratio (DPR) is currently 2.45%.
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Several equities analysts recently issued reports on the company. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Wells Fargo & Company reiterated an “outperform” rating and issued a $54.00 price objective (up from $52.00) on shares of Textron in a research report on Saturday, July 22nd. Morgan Stanley boosted their price objective on Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, August 17th. Finally, Bank of America Corporation lowered Textron from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $53.00 to $45.00 in a research report on Friday, July 21st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $53.00.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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