Textron Inc. (NYSE:TXT) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Textron Inc. (NYSE:TXT) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,767 shares of the aerospace company’s stock after selling 28,647 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Textron were worth $16,504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TXT. Cerity Partners LLC lifted its holdings in shares of Textron by 110.5% during the third quarter. Cerity Partners LLC now owns 28,171 shares of the aerospace company’s stock valued at $2,495,000 after purchasing an additional 14,789 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Textron by 11.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 23,131 shares of the aerospace company’s stock worth $2,049,000 after buying an additional 2,375 shares during the period. Bank of Montreal Can lifted its stake in Textron by 0.4% during the third quarter. Bank of Montreal Can now owns 190,615 shares of the aerospace company’s stock valued at $16,726,000 after buying an additional 772 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Textron in the third quarter worth about $2,221,000. Finally, BNP Paribas Financial Markets increased its position in shares of Textron by 14.7% in the third quarter. BNP Paribas Financial Markets now owns 398,366 shares of the aerospace company’s stock worth $35,287,000 after acquiring an additional 50,936 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

Shares of TXT opened at $72.92 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The firm has a market cap of $13.24 billion, a PE ratio of 16.92, a PEG ratio of 1.18 and a beta of 1.27. The firm’s 50 day moving average price is $74.49 and its 200 day moving average price is $80.26. Textron Inc. has a twelve month low of $70.14 and a twelve month high of $97.34.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 EPS. As a group, research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TXT. 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 research note on Wednesday, January 8th. Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Barclays dropped their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.