Textron Inc. (NYSE:TXT) Receives Consensus Rating of “Moderate Buy” from Analysts

Textron Inc. (NYSE:TXT) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $99.29.

A number of brokerages have recently issued reports on TXT. The Goldman Sachs Group raised their target price on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Citigroup raised their target price on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Susquehanna lowered their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Finally, Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th.

Insider Buying and Selling

In related news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the sale, the director now owns 3,756 shares in the company, valued at approximately $330,189.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Textron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXT. CVA Family Office LLC purchased a new stake in Textron in the 4th quarter valued at about $29,000. Trust Co. of Vermont purchased a new stake in shares of Textron during the 3rd quarter worth about $37,000. Provence Wealth Management Group purchased a new stake in shares of Textron during the 3rd quarter worth about $39,000. Morton Brown Family Wealth LLC purchased a new stake in shares of Textron during the 4th quarter worth about $40,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 338 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

Shares of Textron stock opened at $85.25 on Monday. The firm has a market capitalization of $16.26 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.35 and a beta of 1.28. Textron has a 52 week low of $64.42 and a 52 week high of $97.33. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $88.86 and its two-hundred day moving average is $86.35.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. Research analysts forecast that Textron will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th 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, June 14th. Textron’s dividend payout ratio (DPR) is presently 1.71%.

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.