Analysts Set Textron Inc. (NYSE:TXT) Price Target at $100.90

Textron Inc. (NYSE:TXT) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $98.64.

Several equities analysts have issued reports on TXT shares. Barclays decreased their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group decreased their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Robert W. Baird dropped their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, TD Cowen upgraded Textron to a “hold” rating in a report on Thursday, December 19th.

Textron Price Performance

NYSE:TXT opened at $76.02 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron has a 52 week low of $74.89 and a 52 week high of $97.33. The stock’s 50-day moving average price is $81.52 and its 200-day moving average price is $85.49. The stock has a market capitalization of $14.10 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the firm earned $1.49 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that Textron will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Friday, December 13th. Textron’s dividend payout ratio is currently 1.76%.

Hedge Funds Weigh In On Textron

A number of institutional investors have recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in shares of Textron during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in Textron in the third quarter worth approximately $42,000. Truvestments Capital LLC acquired a new stake in Textron during the third quarter worth $43,000. Venturi Wealth Management LLC raised its position in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 232 shares during the period. Finally, Trust Co. of Vermont lifted its stake in shares of 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 during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

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.