The Sumitomo Mitsui Trust Holdings Inc. Raises Stake in Textron Inc. (TXT)

The Sumitomo Mitsui Trust Holdings Inc. Raises Stake in Textron Inc. (TXT)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Textron Inc. (NYSE:TXT) by 0.8% during the third quarter, Holdings Channel reports. The institutional investor owned 749,819 shares of the company’s stock after buying an additional 6,059 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of Textron worth $29,805,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Textron by 1.0% in the second quarter. Vanguard Group Inc. now owns 22,450,350 shares of the company’s stock worth $820,785,000 after buying an additional 228,678 shares in the last quarter. Capital Research Global Investors increased its position in Textron by 131.4% in the second quarter. Capital Research Global Investors now owns 12,369,176 shares of the company’s stock worth $452,217,000 after buying an additional 7,024,376 shares in the last quarter. BlackRock Fund Advisors increased its position in Textron by 3.0% in the second quarter. BlackRock Fund Advisors now owns 4,802,885 shares of the company’s stock worth $175,593,000 after buying an additional 137,890 shares in the last quarter. Teachers Advisors Inc. increased its position in Textron by 0.8% in the second quarter. Teachers Advisors Inc. now owns 1,844,855 shares of the company’s stock worth $67,448,000 after buying an additional 14,640 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Textron by 6.2% in the second quarter. BlackRock Group LTD now owns 1,751,797 shares of the company’s stock worth $64,046,000 after buying an additional 102,386 shares in the last quarter. Hedge funds and other institutional investors own 80.44% of the company’s stock.

Shares of Textron Inc. (NYSE:TXT) opened at 49.09 on Thursday. The stock has a 50 day moving average price of $48.73 and a 200 day moving average price of $42.16. The company has a market capitalization of $13.26 billion, a PE ratio of 13.77 and a beta of 1.81. Textron Inc. has a 52-week low of $30.69 and a 52-week high of $50.93.

The company also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Investors of record on Friday, December 9th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Wednesday, December 7th. Textron’s dividend payout ratio is presently 2.24%.

TXT has been the topic of a number of research reports. Vertical Research initiated coverage on Textron in a report on Friday, October 28th. They issued a “buy” rating and a $46.00 price objective on the stock. Jefferies Group set a $50.00 price objective on Textron and gave the stock a “buy” rating in a report on Thursday, October 6th. Robert W. Baird started coverage on Textron in a report on Wednesday, October 5th. They issued an “outperform” rating and a $48.00 price objective on the stock. Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th. Finally, Deutsche Bank AG upped their target price on Textron from $43.00 to $47.00 and gave the stock a “hold” rating in a research report on Monday, December 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Textron has an average rating of “Hold” and a consensus price target of $47.18.

Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.

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