Sumitomo Mitsui Trust Group Inc. Has $36.37 Million Holdings in Textron Inc. (NYSE:TXT)

Sumitomo Mitsui Trust Group Inc. grew its position in Textron Inc. (NYSE:TXT - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,420 shares of the aerospace company's stock after buying an additional 4,381 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Textron worth $36,365,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TXT. Empirical Finance LLC raised its holdings in shares of Textron by 1.7% in the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock valued at $624,000 after buying an additional 115 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company's stock valued at $235,000 after buying an additional 125 shares during the last quarter. Pflug Koory LLC raised its holdings in shares of Textron by 0.9% in the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock valued at $1,054,000 after buying an additional 125 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after buying an additional 163 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Textron by 0.4% in the third quarter. Creative Planning now owns 37,304 shares of the aerospace company's stock valued at $3,304,000 after buying an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Price Performance

Shares of TXT traded down $0.75 during trading hours on Friday, hitting $72.35. The stock had a trading volume of 1,582,154 shares, compared to its average volume of 1,333,558. The company's fifty day moving average is $77.13 and its two-hundred day moving average is $83.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a 52 week low of $72.03 and a 52 week high of $97.33. The stock has a market capitalization of $13.42 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.23 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company earned $1.60 EPS. The firm's quarterly revenue was down 7.2% on a year-over-year basis. On average, analysts anticipate that Textron Inc. will post 6.1 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on TXT. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Thursday, December 19th. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Morgan Stanley dropped their price objective on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Finally, Susquehanna dropped their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Textron has an average rating of "Moderate Buy" and a consensus target price of $93.45.

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.