Textron Inc. (NYSE:TXT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Textron Inc. (NYSE:TXT) have received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $93.45.

Several research analysts have commented on the stock. Robert W. Baird decreased their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Monday, January 6th. Morgan Stanley cut their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Susquehanna lowered their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th.

Textron Trading Down 0.3 %

Textron stock opened at $72.99 on Friday. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron has a 1 year low of $71.67 and a 1 year high of $97.33. The firm’s 50 day moving average price is $75.83 and its two-hundred day moving average price is $82.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last issued its earnings results 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. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the firm posted $1.60 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. On average, research analysts predict that Textron will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio is 1.86%.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares of the company’s stock, 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 legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Textron

Institutional investors and hedge funds have recently modified their holdings of the business. Empirical Finance LLC raised its holdings in Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after buying an additional 115 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after acquiring an additional 125 shares in the last quarter. Pflug Koory LLC increased its holdings in shares of Textron by 0.9% during the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after acquiring an additional 125 shares during the last quarter. V Square Quantitative Management LLC raised its stake 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 valued at $200,000 after acquiring an additional 141 shares in the last quarter. Finally, Syon Capital LLC lifted its holdings in 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 purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds 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.