Textron (NYSE:TXT) Price Target Raised to $87.00 at UBS Group

Textron (NYSE:TXT) had its price target boosted by UBS Group from $84.00 to $87.00 in a report released on Friday, Benzinga reports. The brokerage currently has a sell rating on the aerospace company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna decreased their target price on shares of Textron from $110.00 to $105.00 and set a positive rating for the company in a research report on Friday, April 26th. Citigroup raised their price target on shares of Textron from $104.00 to $111.00 and gave the stock a buy rating in a report on Thursday, April 4th. StockNews.com cut shares of Textron from a strong-buy rating to a buy rating in a report on Friday, April 26th. The Goldman Sachs Group raised their price target on shares of Textron from $103.00 to $120.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Finally, TD Cowen raised their price target on shares of Textron from $100.00 to $103.00 and gave the company a buy rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $101.00.

Textron Price Performance

Shares of TXT stock opened at $91.85 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.64 and a quick ratio of 0.84. The company has a market capitalization of $17.52 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.43 and a beta of 1.25. The company’s 50-day simple moving average is $87.44 and its two-hundred day simple moving average is $88.04. Textron has a one year low of $67.04 and a one year high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the firm earned $1.46 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts anticipate that Textron will post 6.29 EPS for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Friday, June 14th. Textron’s dividend payout ratio is currently 1.71%.

Insider Transactions at Textron

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the transaction, the director now directly owns 3,756 shares of the company’s stock, valued at $330,189.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Textron

A number of institutional investors have recently bought and sold shares of TXT. Envestnet Portfolio Solutions Inc. raised its stake in shares of Textron by 263.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock valued at $1,283,000 after acquiring an additional 9,692 shares during the period. SageView Advisory Group LLC acquired a new position in shares of Textron in the 4th quarter valued at $922,000. Studio Investment Management LLC purchased a new stake in Textron in the 4th quarter valued at $1,223,000. Charles Schwab Investment Management Inc. raised its position in Textron by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock valued at $136,085,000 after purchasing an additional 19,769 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its position in Textron by 13.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock valued at $7,943,000 after purchasing an additional 11,510 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

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.