Mitsubishi UFJ Asset Management Co. Ltd. Acquires 24,053 Shares of Textron Inc. (NYSE:TXT)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Textron Inc. (NYSE:TXT) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 302,603 shares of the aerospace company’s stock after acquiring an additional 24,053 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Textron worth $22,916,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TXT. Pflug Koory LLC lifted its position in Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after purchasing an additional 125 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after buying an additional 141 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Textron by 5.8% during the 4th 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 in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Textron by 4.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock valued at $327,000 after acquiring an additional 169 shares during the period. Finally, Uncommon Cents Investing LLC raised its stake in Textron by 2.2% during the 4th quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company’s stock worth $611,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Monday, February 24th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Monday, January 6th. Citigroup lowered their price objective on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Bank of America cut Textron from a “buy” rating to a “neutral” rating and cut their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, Susquehanna lowered their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Down 3.1 %

NYSE TXT opened at $72.92 on Monday. The stock has a 50 day moving average price of $74.49 and a 200-day moving average price of $80.17. Textron Inc. has a one year low of $70.14 and a one year high of $97.34. The company has a market capitalization of $13.24 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.18 and a beta of 1.27. 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) last issued its quarterly earnings data 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 business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the company posted $1.60 EPS. As a group, equities analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

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.