Textron Inc. (NYSE:TXT) Receives $101.56 Average Target Price from Analysts

Shares of Textron Inc. (NYSE:TXT) have earned a consensus rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $101.56.

A number of research analysts recently issued reports on the company. 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 report on Thursday, August 8th. Citigroup raised their price target on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird cut their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and decreased their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th.

Hedge Funds Weigh In On Textron

Institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers boosted its stake in shares of Textron by 579.5% during the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after acquiring an additional 43,225 shares during the period. Virtu Financial LLC lifted its holdings in Textron by 259.2% during the 1st quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company’s stock valued at $1,666,000 after purchasing an additional 12,532 shares during the last quarter. Easterly Investment Partners LLC raised its position in shares of Textron by 87.7% in the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after purchasing an additional 19,304 shares during the period. Atria Investments Inc acquired a new stake in shares of Textron during the 1st quarter worth about $1,204,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Textron by 13.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after buying an additional 57,967 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 1.8 %

Textron stock opened at $83.34 on Thursday. Textron has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $86.32 and a 200-day moving average of $87.31. The stock has a market capitalization of $15.46 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24.

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

Textron Announces Dividend

The company also recently announced 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 is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio (DPR) is currently 1.76%.

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.