Sumitomo Mitsui Trust Group Inc. Decreases Position in Textron Inc. $TXT

Sumitomo Mitsui Trust Group Inc. reduced its stake in Textron Inc. (NYSE:TXT) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 482,278 shares of the aerospace company’s stock after selling 13,749 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Textron were worth $40,748,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its holdings in shares of Textron by 388.5% in the 3rd quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock valued at $25,000 after buying an additional 237 shares in the last quarter. Assetmark Inc. lifted its position in Textron by 191.9% in the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 213 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Textron in the second quarter valued at $27,000. Private Trust Co. NA grew its holdings in shares of Textron by 155.6% during the third quarter. Private Trust Co. NA now owns 460 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 280 shares during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Textron during the second quarter worth about $41,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Price Performance

Shares of NYSE TXT opened at $93.44 on Friday. The stock has a fifty day moving average price of $86.14 and a 200 day moving average price of $83.24. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.88. 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 company has a market cap of $16.47 billion, a PE ratio of 20.54, a P/E/G ratio of 1.41 and a beta of 1.00.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.70 billion. Textron had a net margin of 5.81% and a return on equity of 14.16%. Textron’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Friday, December 12th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, December 12th. Textron’s payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TXT. Citigroup upped their target price on Textron from $91.00 to $107.00 and gave the company a “neutral” rating in a research report on Tuesday. Susquehanna reissued a “positive” rating and issued a $110.00 price objective on shares of Textron in a report on Thursday. UBS Group lifted their target price on shares of Textron from $89.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 price target on shares of Textron in a research report on Thursday. Finally, Wall Street Zen raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 27th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $96.33.

Textron Profile

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.