Textron (NYSE:TXT) Price Target Increased to $120.00 by Analysts at The Goldman Sachs Group

Textron (NYSE:TXT) had its price objective upped by The Goldman Sachs Group from $103.00 to $120.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

A number of other equities analysts also recently commented on TXT. Bank of America upgraded shares of Textron from a neutral rating to a buy rating and boosted their target price for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. StockNews.com upgraded shares of Textron from a buy rating to a strong-buy rating in a research note on Thursday, January 25th. Citigroup boosted their target price on shares of Textron from $104.00 to $111.00 and gave the stock a buy rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. boosted their target price on shares of Textron from $84.00 to $85.00 and gave the stock a neutral rating in a research note on Wednesday, December 20th. Finally, UBS Group boosted their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Textron presently has an average rating of Moderate Buy and a consensus price target of $93.63.

Textron Stock Performance

NYSE:TXT opened at $93.23 on Tuesday. The company has a fifty day simple moving average of $91.34 and a two-hundred day simple moving average of $83.14. The company has a market cap of $17.94 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. Textron has a 52 week low of $61.27 and a 52 week high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. As a group, equities analysts anticipate that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.02 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is presently 1.75%.

Hedge Funds Weigh In On Textron

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Textron by 0.8% in the first quarter. Vanguard Group Inc. now owns 23,503,096 shares of the aerospace company’s stock valued at $1,748,161,000 after buying an additional 177,502 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Textron by 2.9% in the first quarter. BlackRock Inc. now owns 18,231,026 shares of the aerospace company’s stock valued at $1,287,657,000 after buying an additional 519,468 shares during the last quarter. State Street Corp raised its holdings in shares of Textron by 0.5% in the first quarter. State Street Corp now owns 9,564,040 shares of the aerospace company’s stock valued at $711,561,000 after buying an additional 47,344 shares during the last quarter. Boston Partners raised its holdings in shares of Textron by 2.0% in the fourth quarter. Boston Partners now owns 7,016,363 shares of the aerospace company’s stock valued at $564,235,000 after buying an additional 139,927 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Textron by 3.4% in the third quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock valued at $527,948,000 after buying an additional 220,891 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Company Profile

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.