Textron Inc. (NYSE:TXT) Given Consensus Recommendation of “Buy” by Analysts

Textron Inc. (NYSE:TXT) has received an average recommendation of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $78.38.

TXT has been the topic of a number of research analyst reports. Credit Suisse Group boosted their price objective on shares of Textron from $76.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Cowen raised shares of Textron from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $75.00 to $95.00 in a research report on Tuesday, August 31st. Morgan Stanley boosted their price objective on shares of Textron from $87.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, July 30th. Jefferies Financial Group boosted their price objective on shares of Textron from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $82.00 price objective on shares of Textron in a research report on Friday, July 16th.

Textron stock opened at $68.60 on Tuesday. The firm’s 50 day simple moving average is $70.53 and its 200-day simple moving average is $65.44. The company has a market cap of $15.38 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 0.76 and a beta of 1.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.73 and a quick ratio of 1.51. Textron has a fifty-two week low of $31.82 and a fifty-two week high of $74.80.

Textron (NYSE:TXT) last released its earnings results on Thursday, July 29th. The aerospace company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.20. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $2.92 billion. Textron had a net margin of 5.65% and a return on equity of 11.99%. On average, analysts expect that Textron will post 3.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 10th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Thursday, September 9th. Textron’s dividend payout ratio (DPR) is presently 3.86%.

In other news, VP Mark S. Bamford sold 1,825 shares of the business’s stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $71.81, for a total value of $131,053.25. Following the completion of the sale, the vice president now directly owns 18,502 shares in the company, valued at $1,328,628.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of TXT. Alliancebernstein L.P. lifted its stake in shares of Textron by 412.3% in the second quarter. Alliancebernstein L.P. now owns 1,533,392 shares of the aerospace company’s stock worth $105,451,000 after buying an additional 1,234,103 shares during the last quarter. U S Global Investors Inc. acquired a new position in Textron during the 2nd quarter valued at $77,351,000. Boston Partners raised its stake in Textron by 8.6% during the 1st quarter. Boston Partners now owns 6,850,852 shares of the aerospace company’s stock valued at $384,280,000 after purchasing an additional 545,155 shares during the last quarter. Deutsche Bank AG raised its stake in Textron by 109.3% during the 2nd quarter. Deutsche Bank AG now owns 971,732 shares of the aerospace company’s stock valued at $66,825,000 after purchasing an additional 507,541 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Textron by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,518,606 shares of the aerospace company’s stock valued at $1,991,883,000 after purchasing an additional 392,435 shares during the last quarter. Institutional investors and hedge funds own 85.86% of the company’s stock.

Textron Company Profile

Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.

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Analyst Recommendations for Textron (NYSE:TXT)

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