Textron (NYSE:TXT) Sets New 1-Year High – Time to Buy?

Textron Inc. (NYSE:TXT)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $94.58 and last traded at $93.84, with a volume of 158149 shares traded. The stock had previously closed at $93.28.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup lifted their price objective on Textron from $91.00 to $107.00 and gave the stock a “neutral” rating in a report on Tuesday. Susquehanna reissued a “positive” rating and set a $110.00 target price on shares of Textron in a report on Thursday. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price objective on shares of Textron in a research note on Thursday. TD Cowen lowered their price target on shares of Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Finally, UBS Group boosted their price objective on shares of Textron from $89.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.33.

Textron Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average price is $85.88 and its 200-day moving average price is $83.16. The stock has a market cap of $16.47 billion, a P/E ratio of 20.54, a PEG ratio of 1.40 and a beta of 1.00.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. Textron had a net margin of 5.81% and a return on equity of 14.16%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm earned $1.40 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts forecast 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 issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, December 12th. Textron’s dividend payout ratio is currently 1.76%.

Institutional Trading of Textron

A number of hedge funds and other institutional investors have recently modified their holdings of the company. True Wealth Design LLC grew its position in shares of Textron by 388.5% during the third quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 237 shares in the last quarter. Assetmark Inc. grew its holdings in Textron by 191.9% during the 2nd quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after buying an additional 213 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Textron during the second quarter valued at approximately $27,000. Quent Capital LLC purchased a new position in shares of Textron in the third quarter worth $33,000. Finally, Accredited Wealth Management LLC boosted its position in shares of Textron by 804.0% during the third quarter. Accredited Wealth Management LLC now owns 452 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 402 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

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.