Textron Inc. (NYSE:TXT) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Textron Inc. (NYSE:TXT) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,026 shares of the aerospace company’s stock after purchasing an additional 449 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Textron were worth $1,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in Textron during the third quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Textron during the 3rd quarter valued at $42,000. Eastern Bank bought a new stake in shares of Textron during the 4th quarter worth $42,000. Truvestments Capital LLC acquired a new position in shares of Textron in the 3rd quarter worth $43,000. Finally, Venturi Wealth Management LLC raised its position in shares of Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after purchasing an additional 232 shares during the period. 86.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TXT has been the subject of a number of recent analyst reports. UBS Group decreased their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. TD Cowen raised shares of Textron to a “hold” rating in a research report on Thursday, December 19th. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. JPMorgan Chase & Co. cut their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Citigroup decreased their target price on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Trading Up 0.1 %

NYSE:TXT opened at $74.03 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83. The company has a market capitalization of $13.73 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.23 and a beta of 1.27. The stock’s 50 day moving average price is $77.78 and its 200 day moving average price is $83.58. Textron Inc. has a 52 week low of $73.50 and a 52 week high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 EPS. On average, research analysts forecast that Textron Inc. will post 6.1 EPS for the current fiscal year.

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.