Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Textron Inc. (NYSE:TXT) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 545,001 shares of the aerospace company’s stock after selling 4,685 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.21% of Textron worth $29,365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. NGAM Advisors L.P. lifted its holdings in shares of Textron by 28.5% in the second quarter. NGAM Advisors L.P. now owns 56,449 shares of the aerospace company’s stock valued at $2,659,000 after purchasing an additional 12,530 shares in the last quarter. CIBC Asset Management Inc lifted its holdings 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 purchasing an additional 98 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Textron by 66.7% in the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after purchasing an additional 1,043 shares in the last quarter. Korea Investment CORP lifted its holdings in shares of Textron by 88.4% in the second quarter. Korea Investment CORP now owns 28,708 shares of the aerospace company’s stock valued at $1,352,000 after purchasing an additional 13,474 shares in the last quarter. Finally, Global X Management Co. LLC lifted its holdings in shares of Textron by 16.5% in the second quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after purchasing an additional 433 shares in the last quarter. 82.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Textron Inc. (TXT) traded down $1.17 on Wednesday, hitting $54.01. 1,342,800 shares of the company traded hands, compared to its average volume of 1,549,328. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $14,535.54, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 2.53 and a beta of 1.57. Textron Inc. has a fifty-two week low of $43.66 and a fifty-two week high of $56.47.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 earnings per share. equities research analysts expect that Textron Inc. will post 2.47 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s payout ratio is 3.45%.

Several analysts have issued reports on TXT shares. Zacks Investment Research downgraded shares of Textron from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Morgan Stanley upped their price target on shares of Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, August 17th. Jefferies Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of Textron in a report on Friday, October 20th. Citigroup upped their price target on shares of Textron from $54.00 to $61.00 and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Wells Fargo & Company upped their price target on shares of Textron from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $57.82.

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Textron Profile

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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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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