Textron (NYSE:TXT) Earns Neutral Rating from The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their neutral rating on shares of Textron (NYSE:TXT) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a $85.00 price objective on the aerospace company’s stock, down from their prior price objective of $95.00.

A number of other analysts also recently commented on TXT. Citigroup decreased their price objective on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group reissued a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. UBS Group upped their price target on Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a report on Monday, April 28th. Finally, Morgan Stanley reduced their price objective on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $88.08.

Textron Stock Up 0.7%

Textron stock opened at $82.50 on Tuesday. The stock’s 50 day moving average price is $75.28 and its 200 day moving average price is $73.92. Textron has a 1-year low of $57.70 and a 1-year high of $94.57. The company has a market cap of $14.89 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83.

Textron (NYSE:TXT) last issued its earnings results 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 company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the firm earned $1.20 EPS. The business’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts predict that Textron will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

Hedge Funds Weigh In On Textron

Several hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. raised its stake in Textron by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company’s stock valued at $824,408,000 after purchasing an additional 76,972 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Textron by 5.6% during the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock worth $590,059,000 after buying an additional 433,567 shares in the last quarter. Boston Partners raised its position 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 last quarter. Geode Capital Management LLC lifted its stake in shares of Textron by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock valued at $350,619,000 after buying an additional 164,964 shares during the period. Finally, Brandes Investment Partners LP lifted its stake in shares of Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after buying an additional 302,712 shares during the period. Hedge funds and other institutional investors 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.