Textron Inc. (NYSE:TXT) Given Consensus Recommendation of “Hold” by Analysts

Textron Inc. (NYSE:TXTGet Free Report) has been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $93.45.

Several equities research analysts have recently weighed in on the company. UBS Group decreased their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. TD Cowen raised Textron to a “hold” rating in a research report on Thursday, December 19th. Morgan Stanley decreased their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $110.00 to $85.00 in a research report on Friday.

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Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TXT. Public Sector Pension Investment Board grew its position in shares of Textron by 58.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,094 shares of the aerospace company’s stock worth $609,000 after acquiring an additional 2,629 shares in the last quarter. MBB Public Markets I LLC acquired a new position in shares of Textron in the 2nd quarter worth approximately $1,256,000. The Manufacturers Life Insurance Company grew its position in shares of Textron by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 122,505 shares of the aerospace company’s stock worth $10,518,000 after acquiring an additional 5,913 shares in the last quarter. Creative Planning grew its position in shares of Textron by 1.0% in the 2nd quarter. Creative Planning now owns 37,139 shares of the aerospace company’s stock worth $3,189,000 after acquiring an additional 355 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Textron by 3.1% during the 2nd quarter. NewEdge Advisors LLC now owns 26,823 shares of the aerospace company’s stock valued at $2,303,000 after purchasing an additional 806 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

Shares of NYSE:TXT opened at $78.79 on Tuesday. The firm has a market capitalization of $14.62 billion, a PE ratio of 18.28, a P/E/G ratio of 1.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82. The business has a 50-day moving average of $79.78 and a two-hundred day moving average of $84.83. Textron has a 12 month low of $74.89 and a 12 month high of $97.33.

Textron (NYSE:TXTGet Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3,778,060 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 earnings per share. As a group, research analysts forecast that Textron will post 6.15 earnings per share for the current year.

About Textron

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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.

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Analyst Recommendations for Textron (NYSE:TXT)

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