Sumitomo Mitsui DS Asset Management Company Ltd Buys 449 Shares of Textron Inc. (NYSE:TXT)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 2.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 19,026 shares of the aerospace company’s stock after purchasing an additional 449 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Textron were worth $1,455,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in TXT. Empirical Finance LLC boosted its position in Textron by 1.7% in the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after buying an additional 115 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after purchasing an additional 125 shares during the last quarter. Pflug Koory LLC grew its position in shares of Textron by 0.9% during the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after buying an additional 125 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Textron by 5.8% in 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 acquiring an additional 163 shares during the last quarter. Finally, Creative Planning raised its position in shares of Textron by 0.4% in the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock valued at $3,304,000 after acquiring an additional 165 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

Shares of NYSE:TXT opened at $74.03 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. Textron Inc. has a 12-month low of $73.50 and a 12-month high of $97.33. The company’s 50 day moving average price is $77.78 and its two-hundred day moving average price is $83.58. The firm has a market cap of $13.73 billion, a PE ratio of 17.18, a PEG ratio of 1.23 and a beta of 1.27.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 EPS. Equities research analysts predict that Textron Inc. will post 6.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on TXT. Citigroup cut their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Susquehanna lowered their price target on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Morgan Stanley dropped their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. One equities research 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. According to data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $93.45.

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.