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

Shares of Textron Inc. (NYSE:TXT) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $100.90.

Several research firms have weighed in on TXT. UBS Group cut their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. cut their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Thursday, December 19th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Barclays decreased their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd.

Textron Price Performance

TXT stock opened at $75.79 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The company’s fifty day moving average price is $82.15 and its 200-day moving average price is $85.86. Textron has a one year low of $75.23 and a one year high of $97.33. The company has a market capitalization of $14.06 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 EPS. On average, equities analysts anticipate that Textron will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

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

Institutional Investors Weigh In On Textron

Several hedge funds have recently made changes to their positions in TXT. Franklin Resources Inc. raised its holdings in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after purchasing an additional 15,294 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Textron during the third quarter worth $828,000. Easterly Investment Partners LLC boosted its position in Textron by 87.7% during the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after acquiring an additional 19,304 shares in the last quarter. KBC Group NV purchased a new position in shares of Textron in the 3rd quarter valued at $1,797,000. Finally, National Bank of Canada FI raised its position in shares of Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock worth $12,860,000 after acquiring an additional 89,724 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

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.