Sumitomo Mitsui DS Asset Management Company Ltd Has $1.45 Million Stock Position in Textron Inc. (NYSE:TXT)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Textron Inc. (NYSE:TXT) by 2.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,005 shares of the aerospace company’s stock after buying an additional 379 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Textron were worth $1,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TXT. AE Wealth Management LLC grew its position in Textron by 23.7% in the third quarter. AE Wealth Management LLC now owns 13,114 shares of the aerospace company’s stock valued at $1,025,000 after acquiring an additional 2,515 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Textron by 393.9% in the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 390 shares during the period. Czech National Bank lifted its stake in shares of Textron by 45.0% in the third quarter. Czech National Bank now owns 34,619 shares of the aerospace company’s stock worth $2,705,000 after acquiring an additional 10,744 shares during the period. Uncommon Cents Investing LLC acquired a new position in shares of Textron in the third quarter worth approximately $276,000. Finally, Bfsg LLC acquired a new position in Textron in the third quarter valued at approximately $901,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 1.3 %

TXT stock opened at $94.00 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The company has a market capitalization of $18.08 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.50 and a beta of 1.30. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The stock has a fifty day moving average of $92.11 and a 200-day moving average of $83.81.

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

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.75%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group boosted their price target on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. The Goldman Sachs Group upped their price target on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Citigroup upped their price target on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Textron has an average rating of “Moderate Buy” and an average price target of $93.63.

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.