Brokerages Set Textron Inc. (NYSE:TXT) Target Price at $101.56

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

Several research firms recently issued reports on TXT. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. reduced their price target 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. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. UBS Group cut their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. Finally, Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th.

Textron Trading Down 1.4 %

Shares of TXT stock opened at $84.91 on Thursday. Textron has a 1-year low of $74.13 and a 1-year high of $97.33. The firm has a market cap of $15.75 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24. The company has a 50-day moving average of $86.39 and a two-hundred day moving average of $87.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The company had revenue of $3.43 billion for 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 business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.49 EPS. On average, analysts predict that Textron will post 5.52 EPS for the current year.

Textron Announces Dividend

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

Institutional Trading of Textron

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