Textron Inc. (NYSE:TXT) Receives $101.56 Average PT from Analysts

Textron Inc. (NYSE:TXT) has earned a consensus recommendation of “Hold” from the nine research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $101.56.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. Robert W. Baird lowered their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and cut their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th.

Institutional Trading of Textron

A number of hedge funds have recently modified their holdings of TXT. Boston Partners boosted its position in Textron by 1.4% in the 1st quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock worth $682,475,000 after purchasing an additional 99,868 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after buying an additional 160,923 shares in the last quarter. Brandes Investment Partners LP grew its position in Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after buying an additional 258,778 shares during the period. AQR Capital Management LLC increased its holdings in Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after buying an additional 231,173 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Textron by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock worth $120,099,000 after acquiring an additional 6,175 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

NYSE TXT opened at $81.86 on Thursday. The firm’s fifty day simple moving average is $86.13 and its two-hundred day simple moving average is $87.25. The firm has a market capitalization of $15.19 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.53 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron has a 12-month low of $74.13 and a 12-month high of $97.33.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the company earned $1.49 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts forecast that Textron will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio is currently 1.76%.

About Textron

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.