Textron Inc. (NYSE:TXT) Receives Average Rating of “Hold” from Brokerages

Shares of Textron Inc. (NYSE:TXT) have been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $101.56.

Several brokerages recently commented on TXT. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Robert W. Baird lowered their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, UBS Group lowered their target price 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.

Textron Trading Up 0.7 %

Shares of TXT opened at $87.57 on Thursday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $16.25 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. The stock’s fifty day simple moving average is $86.43 and its 200 day simple moving average is $87.31. Textron has a twelve month low of $74.13 and a twelve month high of $97.33.

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 the consensus estimate of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 earnings per share. On average, equities research analysts forecast that Textron will post 5.52 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is currently 1.76%.

Institutional Investors Weigh In On Textron

A number of large investors have recently bought and sold shares of TXT. Empowered Funds LLC bought a new stake in Textron in the first quarter worth about $916,000. Oppenheimer & Co. Inc. raised its holdings in Textron by 11.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,215 shares of the aerospace company’s stock valued at $404,000 after buying an additional 439 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Textron in the 1st quarter worth $338,000. US Bancorp DE raised its holdings in Textron by 11.8% in the 1st quarter. US Bancorp DE now owns 26,416 shares of the aerospace company’s stock worth $2,534,000 after purchasing an additional 2,785 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Textron by 3.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 272,893 shares of the aerospace company’s stock worth $26,179,000 after buying an additional 8,919 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.