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

Shares of Textron Inc. (NYSE:TXT) have been given a consensus rating of “Hold” by the ten analysts that are presently covering the company, Marketbeat Ratings reports. One investment 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 1 year price target among brokerages that have covered the stock in the last year is $87.70.

TXT has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. UBS Group raised their target price on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a report on Monday, April 28th. JPMorgan Chase & Co. cut their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Monday, February 24th. Finally, Robert W. Baird decreased their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd.

Textron Stock Performance

NYSE:TXT opened at $70.05 on Thursday. The company has a market cap of $12.65 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.18 and a beta of 1.20. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron has a twelve month low of $57.70 and a twelve month high of $94.57. The company’s 50-day moving average price is $69.77 and its 200-day moving average price is $76.12.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. During the same period in the previous year, the firm earned $1.20 EPS. Textron’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Textron

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. increased its position in Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock valued at $94,575,000 after acquiring an additional 1,218,485 shares during the period. Invesco Ltd. increased its holdings in Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock valued at $591,523,000 after purchasing an additional 1,167,105 shares during the period. Raymond James Financial Inc. bought a new position in Textron during the 4th quarter worth $41,451,000. D. E. Shaw & Co. Inc. grew its position in shares of Textron by 97.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company’s stock valued at $78,872,000 after buying an additional 510,085 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock valued at $572,465,000 after buying an additional 333,127 shares during the period. 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.