Textron Inc. (NYSE:TXT) Given Average Recommendation of “Hold” by Brokerages

Textron Inc. (NYSE:TXT) has been given an average recommendation of “Hold” by the nine research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $101.56.

A number of research firms have recently commented on TXT. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. UBS Group cut their price objective on shares of 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 on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th.

Textron Stock Performance

Shares of NYSE:TXT opened at $80.91 on Monday. The firm’s 50 day simple moving average is $84.94 and its 200 day simple moving average is $86.75. Textron has a fifty-two week low of $76.98 and a fifty-two week high of $97.33. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82.

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

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s payout ratio is 1.76%.

Institutional Trading of Textron

A number of hedge funds have recently made changes to their positions in TXT. Franklin Resources Inc. lifted its holdings in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after purchasing an additional 15,294 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Textron during the 3rd quarter worth about $122,000. M&T Bank Corp raised its holdings in Textron by 2.3% in the 3rd quarter. M&T Bank Corp now owns 17,101 shares of the aerospace company’s stock valued at $1,514,000 after acquiring an additional 382 shares during the period. Groupama Asset Managment acquired a new stake in Textron during the third quarter worth approximately $742,000. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Textron by 1.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 55,845 shares of the aerospace company’s stock valued at $4,947,000 after purchasing an additional 871 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

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.