Mitsubishi UFJ Trust & Banking Corp Reduces Position in Textron Inc. (NYSE:TXT)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Textron Inc. (NYSE:TXT - Free Report) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,767 shares of the aerospace company's stock after selling 28,647 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.12% of Textron worth $16,504,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TXT. Merit Financial Group LLC grew its holdings in shares of Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock worth $366,000 after purchasing an additional 265 shares during the last quarter. Empowered Funds LLC grew its stake in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after buying an additional 4,480 shares during the last quarter. Franklin Resources Inc. increased its position in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after buying an additional 15,294 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock valued at $1,343,000 after buying an additional 5,367 shares during the last quarter. Finally, Todd Asset Management LLC boosted its holdings in shares of Textron by 1.8% in the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock valued at $35,973,000 after acquiring an additional 8,198 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of brokerages have recently commented on TXT. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 target price on the stock in a report on Monday, January 6th. Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Citigroup dropped their price target on Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Finally, Morgan Stanley dropped their target price on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $93.45.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Textron Price Performance

NYSE:TXT traded up $0.10 during trading hours on Wednesday, hitting $72.26. The company's stock had a trading volume of 148,198 shares, compared to its average volume of 1,152,635. The company has a market capitalization of $13.12 billion, a PE ratio of 16.77, a PEG 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 business's 50-day moving average is $74.17 and its two-hundred day moving average is $79.96. 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 announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter last year, the business earned $1.60 earnings per share. The business's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

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.