Textron Inc. (NYSE:TXT) Receives $87.70 Average Target Price from Brokerages

Textron Inc. (NYSE:TXT) has earned an average recommendation of “Hold” from the ten ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $87.70.

TXT has been the topic of a number of recent research reports. UBS Group increased their target price on Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a research note on Monday, April 28th. TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. Morgan Stanley cut their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Finally, Citigroup cut their target price on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th.

Textron Price Performance

Shares of Textron stock opened at $75.67 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a market cap of $13.66 billion, a PE ratio of 17.56, a P/E/G ratio of 1.18 and a beta of 1.16. The business has a 50 day moving average of $70.20 and a 200 day moving average of $74.58. Textron has a 52 week low of $57.70 and a 52 week high of $94.57.

Textron (NYSE:TXT) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. As a group, equities research analysts forecast that Textron will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.81%.

Institutional Investors Weigh In On Textron

Several institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new stake in shares of Textron during the first quarter valued at $1,293,000. Focus Partners Wealth boosted its position in Textron by 18.0% in the first quarter. Focus Partners Wealth now owns 4,814 shares of the aerospace company’s stock worth $348,000 after purchasing an additional 735 shares during the last quarter. SageView Advisory Group LLC boosted its position in Textron by 19.1% in the first quarter. SageView Advisory Group LLC now owns 11,833 shares of the aerospace company’s stock worth $855,000 after purchasing an additional 1,899 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Textron by 0.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 791,912 shares of the aerospace company’s stock worth $57,216,000 after purchasing an additional 5,634 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in Textron by 6.3% in the first quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company’s stock worth $1,546,000 after purchasing an additional 1,265 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.