Brokerages Set Textron Inc. (NYSE:TXT) Price Target at $101.56

Shares of Textron Inc. (NYSE:TXT) have received a consensus rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $101.56.

Several research analysts have issued reports on TXT shares. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Citigroup raised their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research note on Thursday, August 8th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th.

Textron Stock Down 1.4 %

Shares of NYSE TXT opened at $84.91 on Thursday. The business has a 50-day moving average price of $86.39 and a 200 day moving average price of $87.31. The stock has a market cap of $15.75 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron has a 52-week low of $74.13 and a 52-week high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. Textron’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 earnings per share. Equities research analysts forecast that Textron will post 5.52 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Hedge Funds Weigh In On Textron

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC purchased a new stake in Textron during the first quarter worth about $916,000. Oppenheimer & Co. Inc. grew its holdings in shares of Textron by 11.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,215 shares of the aerospace company’s stock worth $404,000 after acquiring an additional 439 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Textron in the first quarter valued at $338,000. US Bancorp DE increased its holdings in Textron by 11.8% during the 1st quarter. US Bancorp DE now owns 26,416 shares of the aerospace company’s stock valued at $2,534,000 after acquiring an additional 2,785 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Textron by 3.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 272,893 shares of the aerospace company’s stock valued at $26,179,000 after purchasing an additional 8,919 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

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.