Mitsubishi UFJ Trust & Banking Corp Increases Holdings in Textron Inc. $TXT

Mitsubishi UFJ Trust & Banking Corp boosted its position in Textron Inc. (NYSE:TXT) by 29.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 274,055 shares of the aerospace company’s stock after purchasing an additional 62,105 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Textron were worth $22,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Textron during the 1st quarter valued at approximately $89,403,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Textron in the second quarter valued at $66,446,000. Millennium Management LLC grew 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 purchasing an additional 626,346 shares during the period. Invesco Ltd. grew 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 worth $590,059,000 after purchasing an additional 433,567 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Textron by 110.6% during the 1st quarter. Mackenzie Financial Corp now owns 442,358 shares of the aerospace company’s stock valued at $31,960,000 after buying an additional 232,277 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $80.66 on Friday. 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 stock’s 50 day simple moving average is $82.46 and its 200-day simple moving average is $79.66. The company has a market cap of $14.21 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $87.94.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm 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 dividend of $0.02 per share. The ex-dividend date is Friday, December 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron’s payout ratio is presently 1.76%.

Analyst Ratings Changes

Several analysts recently commented on TXT shares. TD Cowen dropped their target price on Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Barclays raised their price objective on shares of Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. UBS Group cut their price objective on shares of Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Finally, Wall Street Zen raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 27th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.15.

About Textron

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.