Textron Inc. $TXT Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Textron Inc. (NYSE:TXT) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 496,027 shares of the aerospace company’s stock after purchasing an additional 19,567 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Textron were worth $39,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. boosted its position in Textron by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company’s stock valued at $824,408,000 after purchasing an additional 76,972 shares during the period. Invesco Ltd. boosted its position in Textron by 5.6% during the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock valued at $590,059,000 after purchasing an additional 433,567 shares during the period. Goldman Sachs Group Inc. boosted its position in Textron by 10.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,429 shares of the aerospace company’s stock valued at $89,838,000 after purchasing an additional 120,577 shares during the period. Nuveen LLC acquired a new position in Textron during the 1st quarter valued at approximately $89,403,000. Finally, Millennium Management LLC boosted its position in 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 acquiring an additional 626,346 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 0.8%

TXT stock opened at $80.53 on Tuesday. The firm has a market cap of $14.19 billion, a PE ratio of 17.70, a P/E/G ratio of 1.32 and a beta of 1.13. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $89.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $82.35 and a 200 day simple moving average of $78.32.

Textron (NYSE:TXT) last posted its quarterly 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. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Textron had a return on equity of 14.16% and a net margin of 5.81%.The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be given a $0.02 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron’s dividend payout ratio (DPR) is 1.76%.

Analysts Set New Price Targets

TXT has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Textron in a report on Wednesday, October 8th. TD Cowen lowered their target price on shares of Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday. Susquehanna upped their price target on shares of Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Barclays increased their price objective on shares of Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Wall Street Zen raised Textron from a “buy” rating to a “strong-buy” rating in a report on Monday. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Textron currently has an average rating of “Hold” and a consensus target price of $92.15.

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.