Textron (NYSE:TXT) Sets New 12-Month High – Time to Buy?

Textron Inc. (NYSE:TXT)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $91.87 and last traded at $90.9350, with a volume of 152207 shares. The stock had previously closed at $90.07.

Analyst Ratings Changes

Several brokerages recently commented on TXT. UBS Group cut their price target on shares of Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. JPMorgan Chase & Co. dropped their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Citigroup began coverage on Textron in a research note on Thursday, December 11th. They set a “neutral” rating and a $91.00 target price on the stock. Wall Street Zen upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $94.00 price objective on shares of Textron in a report on Tuesday. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Textron currently has a consensus rating of “Hold” and an average price target of $91.25.

Textron Trading Up 0.5%

The firm has a market capitalization of $15.94 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The stock has a 50-day simple moving average of $84.39 and a two-hundred day simple moving average of $82.63. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. Textron had a return on equity of 14.16% and a net margin of 5.81%.The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Friday, December 12th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron’s dividend payout ratio (DPR) is 1.76%.

Institutional Investors Weigh In On Textron

Several hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its stake in Textron by 1.0% in the first quarter. Royal Bank of Canada now owns 277,088 shares of the aerospace company’s stock worth $20,020,000 after buying an additional 2,632 shares in the last quarter. Amundi increased its holdings in shares of Textron by 6.2% in the 1st quarter. Amundi now owns 106,269 shares of the aerospace company’s stock valued at $7,106,000 after acquiring an additional 6,177 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Textron by 68.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 15,740 shares of the aerospace company’s stock worth $1,137,000 after acquiring an additional 6,393 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Textron by 3.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 10,225 shares of the aerospace company’s stock worth $739,000 after acquiring an additional 362 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Textron by 13.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,522 shares of the aerospace company’s stock worth $1,049,000 after purchasing an additional 1,709 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

About Textron

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.