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

Textron Inc. (NYSE:TXT) has been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $95.63.

A number of brokerages have commented on TXT. Citigroup upped their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Susquehanna reduced their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday. UBS Group increased their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. The Goldman Sachs Group increased their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $105.00 in a research note on Friday, March 8th.

Textron Trading Up 1.9 %

Shares of NYSE TXT opened at $86.51 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.03 and a current ratio of 1.66. The firm’s 50 day moving average price is $92.10 and its 200-day moving average price is $83.90. Textron has a 52-week low of $61.27 and a 52-week high of $97.33. The company has a market cap of $16.64 billion, a PE ratio of 18.49, a P/E/G ratio of 1.33 and a beta of 1.30.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Textron will post 6.3 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio is currently 1.71%.

Institutional Investors Weigh In On Textron

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pinnacle Associates Ltd. increased its stake in Textron by 0.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 30,614 shares of the aerospace company’s stock worth $2,937,000 after buying an additional 181 shares during the period. YHB Investment Advisors Inc. purchased a new position in Textron during the 1st quarter valued at about $65,000. Aaron Wealth Advisors LLC increased its position in Textron by 9.5% during the 1st quarter. Aaron Wealth Advisors LLC now owns 6,875 shares of the aerospace company’s stock valued at $660,000 after purchasing an additional 598 shares during the period. Whalen Wealth Management Inc. increased its position in Textron by 4.0% during the 1st quarter. Whalen Wealth Management Inc. now owns 8,010 shares of the aerospace company’s stock valued at $768,000 after purchasing an additional 310 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Textron by 6.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,869 shares of the aerospace company’s stock valued at $1,618,000 after purchasing an additional 1,003 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.