Textron’s (TXT) Neutral Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reissued their neutral rating on shares of Textron (NYSE:TXT) in a research note published on Tuesday morning, Marketbeat reports. The Goldman Sachs Group currently has a $85.00 price objective on the aerospace company’s stock, down from their previous price objective of $95.00.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a $95.00 price objective (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. UBS Group lifted their price target on shares of Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a research note on Monday, April 28th. Citigroup decreased their price objective on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, 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 report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Textron presently has a consensus rating of “Hold” and a consensus target price of $88.08.

Textron Stock Up 0.7%

Shares of NYSE:TXT opened at $82.50 on Tuesday. Textron has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The firm’s 50 day moving average price is $75.28 and its 200 day moving average price is $73.92. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. As a group, equities research analysts predict that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date was Friday, June 13th. Textron’s dividend payout ratio (DPR) is presently 1.81%.

Institutional Trading of Textron

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Textron by 50.2% during the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock worth $46,137,000 after purchasing an additional 201,696 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Textron by 8.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 302,603 shares of the aerospace company’s stock valued at $22,916,000 after buying an additional 24,053 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Textron by 31.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company’s stock worth $2,776,000 after buying an additional 9,082 shares during the last quarter. HUB Investment Partners LLC raised its position in Textron by 30.3% during the 4th quarter. HUB Investment Partners LLC now owns 30,026 shares of the aerospace company’s stock worth $2,297,000 after buying an additional 6,990 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its stake in shares of Textron by 166.8% in the 4th quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company’s stock worth $5,125,000 after acquiring an additional 41,888 shares during the period. 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.