Analysts Set Textron Inc. (NYSE:TXT) Target Price at $102.50

Textron Inc. (NYSE:TXT) has been assigned an average rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $101.50.

Several equities research analysts have recently weighed in on TXT shares. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research report on Thursday, August 8th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup raised their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Bank of America upped their price target on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, UBS Group increased their price objective on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th.

Institutional Investors Weigh In On Textron

Hedge funds have recently made changes to their positions in the business. Boston Partners grew its stake in shares of Textron by 1.4% during the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock valued at $682,475,000 after buying an additional 99,868 shares during the last quarter. LSV Asset Management grew its holdings in shares of Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after purchasing an additional 260,003 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after buying an additional 160,923 shares during the period. Brandes Investment Partners LP grew its stake in shares of Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after purchasing an additional 258,778 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after acquiring an additional 231,173 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Textron Price Performance

TXT opened at $87.75 on Wednesday. The firm has a 50-day moving average price of $88.26 and a 200-day moving average price of $89.17. Textron has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $16.44 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.38 and a beta of 1.23.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. Textron’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. Equities analysts expect that Textron will post 6.26 EPS for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is presently 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.