Textron Inc. (NYSE:TXT) Receives $100.90 Consensus Target Price from Brokerages

Shares of Textron Inc. (NYSE:TXT) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $100.00.

Several brokerages recently commented on TXT. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. cut their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. TD Cowen upgraded Textron to a “hold” rating in a report on Thursday, December 19th. Robert W. Baird dropped their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Barclays reduced their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd.

Institutional Investors Weigh In On Textron

Several large investors have recently modified their holdings of the business. Central Pacific Bank Trust Division boosted its stake in shares of Textron by 4.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 24,200 shares of the aerospace company’s stock valued at $1,851,000 after purchasing an additional 1,000 shares in the last quarter. Franklin Resources Inc. boosted its position in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after acquiring an additional 15,294 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Textron in the 3rd quarter valued at $122,000. M&T Bank Corp raised its position in shares of Textron by 2.3% in the 3rd quarter. M&T Bank Corp now owns 17,101 shares of the aerospace company’s stock worth $1,514,000 after acquiring an additional 382 shares in the last quarter. Finally, Groupama Asset Managment purchased a new stake in shares of Textron during the 3rd quarter worth $742,000. Institutional investors own 86.03% of the company’s stock.

Textron Price Performance

NYSE:TXT opened at $75.58 on Friday. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The business has a 50 day simple moving average of $81.73 and a 200-day simple moving average of $85.63. Textron has a 1 year low of $75.00 and a 1 year high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) 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 the consensus estimate of $3.50 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that Textron will post 5.52 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Friday, December 13th. Textron’s payout ratio is 1.76%.

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.