Textron Inc. (NYSE:TXT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Textron Inc. (NYSE:TXTGet Free Report) have earned a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. One 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 target price among brokerages that have covered the stock in the last year is $90.00.

Several research analysts recently issued reports on the stock. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. UBS Group increased their target price on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Textron in a research report on Tuesday, January 2nd. Finally, Citigroup boosted their price target on shares of Textron from $102.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, January 25th.

Read Our Latest Research Report on TXT

Textron Trading Down 1.2 %

TXT opened at $94.14 on Wednesday. Textron has a twelve month low of $61.27 and a twelve month high of $96.80. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $89.45 and a 200-day moving average of $81.93. The stock has a market cap of $18.11 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30.

Textron (NYSE:TXTGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the prior year, the company posted $1.07 earnings per share. Textron’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Textron will post 6.27 EPS for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date was Thursday, March 14th. Textron’s dividend payout ratio (DPR) is currently 1.75%.

Institutional Trading of Textron

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Textron by 0.5% in the 2nd quarter. State Street Corp now owns 8,933,601 shares of the aerospace company’s stock valued at $604,357,000 after purchasing an additional 42,749 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of Textron by 12.8% during the 3rd quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock valued at $796,000 after acquiring an additional 1,158 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Textron by 7.6% during the 3rd quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after acquiring an additional 230,560 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Textron by 36.9% during the 3rd quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock valued at $42,367,000 after acquiring an additional 146,055 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Textron by 13.2% during the 4th quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock valued at $7,943,000 after acquiring an additional 11,510 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

About Textron

(Get Free Report

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.

Further Reading

Analyst Recommendations for Textron (NYSE:TXT)

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