Textron (NYSE:TXT) Shares Gap Down to $94.01

Textron Inc. (NYSE:TXT)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $94.01, but opened at $84.76. Textron shares last traded at $83.11, with a volume of 1,327,636 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $105.00 in a research report on Friday, March 8th. UBS Group upped their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Citigroup upped their price objective on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.63.

Textron Price Performance

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 stock has a market cap of $16.33 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The business’s 50-day simple moving average is $92.11 and its two-hundred day simple moving average is $83.81.

Textron (NYSE:TXT) last issued its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. Sell-side analysts expect that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s payout ratio is 1.75%.

Institutional Investors Weigh In On Textron

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its stake in shares of Textron by 18.6% during the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 122 shares in the last quarter. Allworth Financial LP raised its stake in shares of Textron by 12.0% during the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after acquiring an additional 137 shares in the last quarter. Quent Capital LLC raised its stake in shares of Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after acquiring an additional 143 shares in the last quarter. Czech National Bank grew its holdings in shares of Textron by 0.5% in the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after purchasing an additional 157 shares during the last quarter. Finally, Altman Advisors Inc. grew its holdings in shares of Textron by 0.8% in the fourth quarter. Altman Advisors Inc. now owns 21,357 shares of the aerospace company’s stock worth $1,718,000 after purchasing an additional 159 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

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.