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

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Textron Inc. (NYSE:TXT) by 2.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 18,577 shares of the aerospace company’s stock after purchasing an additional 429 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Textron were worth $1,646,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TXT. Innealta Capital LLC acquired a new stake in Textron during the second quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Textron during the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. acquired a new stake in Textron during the 2nd quarter worth approximately $31,000. Family Firm Inc. purchased a new position in Textron in the second quarter valued at approximately $40,000. Finally, Truvestments Capital LLC acquired a new position in Textron during the first quarter valued at approximately $48,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXT has been the subject of several recent research reports. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. lowered their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Bank of America boosted their price objective on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. UBS Group upped their target price on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. Finally, Citigroup raised their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $102.75.

Textron Stock Down 0.7 %

Shares of NYSE TXT opened at $89.39 on Tuesday. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The stock’s 50-day simple moving average is $87.80 and its 200-day simple moving average is $88.35.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Friday, September 13th. Textron’s payout ratio is 1.69%.

About Textron

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.