Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in Textron Inc. (NYSE:TXT)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Textron Inc. (NYSE:TXT - Free Report) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 302,603 shares of the aerospace company's stock after purchasing an additional 24,053 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Textron worth $22,916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Partners increased its stake in shares of Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after buying an additional 333,127 shares during the period. Brandes Investment Partners LP grew its holdings in Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock worth $142,249,000 after acquiring an additional 302,712 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Textron by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company's stock valued at $128,416,000 after acquiring an additional 7,610 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Textron by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company's stock valued at $109,257,000 after acquiring an additional 104,982 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Textron during the fourth quarter worth about $41,451,000. Institutional investors own 86.03% of the company's stock.

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Textron Stock Up 0.4 %

Shares of Textron stock traded up $0.32 during midday trading on Wednesday, hitting $72.48. The company had a trading volume of 1,148,256 shares, compared to its average volume of 1,156,534. The company has a 50 day moving average of $74.17 and a 200 day moving average of $79.96. The stock has a market capitalization of $13.16 billion, a P/E ratio of 16.82, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company's quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 earnings per share. On average, equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron's dividend payout ratio is presently 1.86%.

Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

TXT has been the subject of a number of recent analyst reports. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and lowered their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Morgan Stanley dropped their price target on Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective on the stock in a research report on Monday, January 6th. Susquehanna decreased their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird cut their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Textron has an average rating of "Moderate Buy" and an average target price of $93.45.

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.