Textron Inc. (NYSE:TXT) Receives $93.45 Consensus Target Price from Brokerages

Textron Inc. (NYSE:TXT) has been given an average rating of “Hold” by the eleven analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $93.45.

A number of research analysts have commented on TXT shares. Susquehanna reduced their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Citigroup reduced their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Bank of America cut Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, Morgan Stanley dropped their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd.

Textron Trading Up 0.3 %

Shares of TXT opened at $74.50 on Wednesday. Textron has a 1-year low of $70.14 and a 1-year high of $97.34. The company has a market capitalization of $13.53 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $74.76 and its 200 day simple moving average is $80.43.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. Sell-side analysts forecast that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insiders Place Their Bets

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Textron

A number of hedge funds have recently modified their holdings of TXT. Apollon Wealth Management LLC lifted its position in Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after acquiring an additional 125 shares during the period. Pflug Koory LLC lifted its holdings in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Textron by 5.7% in the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after purchasing an additional 141 shares in the last quarter. Syon Capital LLC grew its stake in shares of Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock worth $271,000 after buying an additional 153 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in Textron by 5.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after buying an additional 163 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

About Textron

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.