The Goldman Sachs Group Boosts Textron (NYSE:TXT) Price Target to $120.00

Textron (NYSE:TXT) had its price target upped by The Goldman Sachs Group from $103.00 to $120.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

Several other research analysts have also issued reports on TXT. Bank of America upgraded shares of Textron from a neutral rating to a buy rating and increased their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. JPMorgan Chase & Co. upped their price target on Textron from $84.00 to $85.00 and gave the stock a neutral rating in a research note on Wednesday, December 20th. UBS Group raised their price objective on Textron from $77.00 to $81.00 and gave the company a sell rating in a research report on Friday, January 26th. Citigroup boosted their target price on Textron from $104.00 to $111.00 and gave the stock a buy rating in a report on Thursday, April 4th. Finally, StockNews.com upgraded Textron from a buy rating to a strong-buy rating in a report on Thursday, January 25th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $93.63.

Textron Stock Up 0.8 %

TXT stock opened at $93.30 on Tuesday. Textron has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The company has a market capitalization of $17.95 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.45 and a beta of 1.30. The business’s 50 day moving average price is $91.65 and its two-hundred day moving average price is $83.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92.

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

Textron Dividend Announcement

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

Hedge Funds Weigh In On Textron

A number of hedge funds have recently bought and sold shares of TXT. CVA Family Office LLC bought a new stake in shares of Textron in the fourth quarter worth approximately $29,000. Money Concepts Capital Corp raised its stake in Textron by 109.0% during the 4th quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock valued at $31,000 after buying an additional 231 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Textron by 100.0% during the 3rd quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock valued at $35,000 after buying an additional 300 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Textron by 393.9% during the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after buying an additional 390 shares during the period. Finally, Trust Co. of Vermont purchased a new position in shares of Textron in the 3rd quarter worth $37,000. 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.