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

Shares of Textron Inc. (NYSE:TXT) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $100.90.

A number of brokerages recently commented on TXT. JPMorgan Chase & Co. dropped their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Barclays cut their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Robert W. Baird decreased their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. UBS Group cut their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TXT. True Wealth Design LLC purchased a new position in shares of Textron during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Textron in the third quarter worth $42,000. Truvestments Capital LLC bought a new position in Textron in the 3rd quarter worth $43,000. Venturi Wealth Management LLC increased its stake in Textron by 69.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after buying an additional 232 shares in the last quarter. Finally, Trust Co. of Vermont raised its holdings in Textron by 94.7% during the third quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock valued at $81,000 after acquiring an additional 445 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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 firm has a market cap of $14.06 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.46 and a beta of 1.25. The firm’s fifty day moving average is $82.15 and its 200 day moving average is $85.86. Textron has a 52 week low of $75.23 and a 52 week high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates 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%. Textron’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $1.49 earnings per share. Research analysts predict that Textron will post 5.52 earnings per share for the current year.

Textron Announces Dividend

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

Textron Company Profile

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.