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

Textron Inc. (NYSE:TXT) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $101.50.

Several research firms have recently commented on TXT. UBS Group boosted their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. Bank of America upped their price objective on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, Citigroup boosted their target price on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

Institutional Trading of Textron

A number of institutional investors have recently modified their holdings of the business. Innealta Capital LLC purchased a new stake in Textron in the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Textron in the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new stake in Textron in the 2nd quarter worth approximately $31,000. Family Firm Inc. purchased a new stake in Textron in the 2nd quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp lifted its stake in Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 338 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Price Performance

Shares of NYSE TXT opened at $87.45 on Wednesday. The firm’s 50-day moving average price is $88.10 and its 200-day moving average price is $89.07. Textron has a 1-year low of $74.13 and a 1-year high of $97.33. The firm has a market capitalization of $16.38 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.39 and a beta of 1.23. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that Textron will post 6.18 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Friday, September 13th. Textron’s payout ratio is currently 1.71%.

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.