Textron (NYSE:TXT) Price Target Raised to $99.00

Textron (NYSE:TXT) had its price objective hoisted by Citigroup from $97.00 to $99.00 in a research note published on Thursday,Benzinga reports. The firm currently has a neutral rating on the aerospace company’s stock.

Several other research firms have also weighed in on TXT. Weiss Ratings upgraded shares of Textron from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Morgan Stanley set a $92.00 price objective on shares of Textron in a research report on Thursday, January 29th. Wells Fargo & Company started coverage on Textron in a research note on Wednesday. They set an “equal weight” rating and a $92.00 price objective on the stock. UBS Group lifted their target price on Textron from $89.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Textron in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Textron presently has an average rating of “Hold” and a consensus target price of $98.18.

Textron Price Performance

Shares of TXT opened at $88.04 on Thursday. The stock has a market cap of $15.33 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Textron has a 1 year low of $57.70 and a 1 year high of $101.57. The stock’s 50-day moving average price is $93.38 and its two-hundred day moving average price is $88.14. The company has a current ratio of 1.97, a quick ratio of 0.99 and a debt-to-equity ratio of 0.49.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 28th. The aerospace company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.01). The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.11 billion. Textron had a net margin of 6.22% and a return on equity of 14.63%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. On average, equities analysts predict that Textron will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, March 13th. Textron’s dividend payout ratio (DPR) is presently 1.57%.

Insiders Place Their Bets

In related news, Chairman Scott C. Donnelly sold 219,619 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $98.41, for a total value of $21,612,705.79. Following the sale, the chairman directly owned 742,418 shares of the company’s stock, valued at approximately $73,061,355.38. The trade was a 22.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP E Robert Lupone sold 28,056 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $98.84, for a total transaction of $2,773,055.04. Following the completion of the transaction, the executive vice president directly owned 103,991 shares of the company’s stock, valued at approximately $10,278,470.44. The trade was a 21.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 304,473 shares of company stock worth $29,976,723 in the last ninety days. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Textron by 13.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,522 shares of the aerospace company’s stock valued at $1,049,000 after acquiring an additional 1,709 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Textron by 6.3% in the first quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company’s stock valued at $1,546,000 after purchasing an additional 1,265 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Textron by 18.0% in the first quarter. Focus Partners Wealth now owns 4,814 shares of the aerospace company’s stock valued at $348,000 after purchasing an additional 735 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Textron in the second quarter worth $453,000. Finally, American Century Companies Inc. lifted its position in shares of Textron by 12.5% in the second quarter. American Century Companies Inc. now owns 87,134 shares of the aerospace company’s stock worth $6,996,000 after purchasing an additional 9,680 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

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.