Textron Inc. (TXT) Position Increased by Mitsubishi UFJ Trust & Banking Corp
Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Textron Inc. (NYSE:TXT) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 549,686 shares of the aerospace company’s stock after buying an additional 19,296 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.21% of Textron worth $25,890,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Bessemer Group Inc. increased its stake 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 buying an additional 1,043 shares during the period. Global X Management Co. LLC increased its stake in shares of Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock valued at $125,000 after buying an additional 607 shares during the period. Parkside Financial Bank & Trust increased its stake 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 during the period. Koch Industries Inc. purchased a new stake in shares of Textron during the first quarter valued at about $203,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Textron during the first quarter valued at about $210,000. 81.50% of the stock is currently owned by institutional investors.
Textron Inc. (NYSE:TXT) opened at 49.23 on Friday. The firm has a market capitalization of $13.03 billion, a P/E ratio of 15.05 and a beta of 1.56. The firm’s 50-day moving average is $48.79 and its 200 day moving average is $47.72. Textron Inc. has a 52-week low of $37.19 and a 52-week high of $50.93.
Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the business earned $0.66 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Textron Inc. will post $2.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.16%. Textron’s payout ratio is currently 2.45%.
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Several analysts have issued reports on TXT shares. Credit Suisse Group reissued a “buy” rating and set a $50.00 target price on shares of Textron in a research note on Wednesday, May 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Textron in a research note on Thursday, May 18th. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, July 18th. BidaskClub raised shares of Textron from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $54.00 price target (up from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $53.00.
Textron Company 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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