Textron Inc. (NYSE:TXT) Receives $88.36 Consensus Price Target from Analysts

Textron Inc. (NYSE:TXT) has earned an average rating of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $88.08.

Several equities analysts have recently commented on TXT shares. Jefferies Financial Group restated a “buy” rating and issued a $95.00 price objective (up from $85.00) on shares of Textron in a report on Thursday, June 12th. UBS Group upped their price objective on shares of Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a report on Monday, April 28th. Morgan Stanley decreased their price objective on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Citigroup cut their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $85.00 target price (down from $95.00) on shares of Textron in a research note on Tuesday.

Textron Stock Performance

NYSE:TXT opened at $82.50 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. The firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.33 and a beta of 1.17. The company’s 50-day moving average is $75.28 and its two-hundred day moving average is $73.92. Textron has a 1-year low of $57.70 and a 1-year high of $94.57.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a net margin of 5.98% and a return on equity of 14.77%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the business posted $1.20 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts forecast that Textron will post 6.12 EPS for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend was Friday, June 13th. Textron’s dividend payout ratio is presently 1.81%.

Institutional Investors Weigh In On Textron

A number of large investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Textron in the 1st quarter valued at approximately $1,293,000. Focus Partners Wealth grew its position in shares of Textron by 18.0% in the 1st quarter. Focus Partners Wealth now owns 4,814 shares of the aerospace company’s stock valued at $348,000 after buying an additional 735 shares during the last quarter. SageView Advisory Group LLC grew its position in shares of Textron by 19.1% in the 1st quarter. SageView Advisory Group LLC now owns 11,833 shares of the aerospace company’s stock valued at $855,000 after buying an additional 1,899 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Textron by 0.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 791,912 shares of the aerospace company’s stock valued at $57,216,000 after buying an additional 5,634 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Textron by 6.3% in the 1st quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company’s stock valued at $1,546,000 after buying an additional 1,265 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.