Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Textron Inc. (NYSE:TXT)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Textron Inc. (NYSE:TXT) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,577 shares of the aerospace company’s stock after buying 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 reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Trust Co. of Vermont increased its stake in Textron by 94.7% in the 3rd quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock valued at $81,000 after purchasing an additional 445 shares in the last quarter. Creative Planning increased its position in shares of Textron by 0.4% in the third quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock valued at $3,304,000 after buying an additional 165 shares in the last quarter. Elk River Wealth Management LLC raised its stake in shares of Textron by 1.6% during the 3rd quarter. Elk River Wealth Management LLC now owns 58,451 shares of the aerospace company’s stock worth $5,179,000 after buying an additional 934 shares during the last quarter. Empirical Asset Management LLC boosted its position in shares of Textron by 11.5% in the 3rd quarter. Empirical Asset Management LLC now owns 3,136 shares of the aerospace company’s stock worth $278,000 after buying an additional 324 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA grew its stake in Textron by 10.8% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 3,900 shares of the aerospace company’s stock valued at $345,000 after acquiring an additional 380 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Price Performance

Shares of NYSE:TXT opened at $89.39 on Tuesday. The company has a market cap of $16.75 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.47 and a beta of 1.23. The business has a fifty day simple moving average of $87.80 and a 200-day simple moving average of $88.35. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47.

Textron Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and reduced their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. reduced their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, UBS Group increased their price objective on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $102.75.

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.