Textron Inc. (NYSE:TXT) Receives Consensus Recommendation of “Hold” from Analysts

Textron Inc. (NYSE:TXT) has been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $93.45.

Several equities analysts have recently commented on TXT shares. TD Cowen upgraded Textron to a “hold” rating in a research report on Monday, February 24th. Citigroup lowered their price objective on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Morgan Stanley lowered their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Monday, January 6th.

Textron Stock Down 0.6 %

Shares of NYSE:TXT opened at $74.17 on Wednesday. Textron has a 52-week low of $70.14 and a 52-week high of $97.34. The firm has a market capitalization of $13.47 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.18 and a beta of 1.27. The stock has a 50 day moving average price of $75.02 and a 200-day moving average price of $80.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. As a group, equities research analysts anticipate that Textron will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Institutional Trading of Textron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXT. Balyasny Asset Management L.P. grew its stake in shares of Textron by 6,785.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock worth $94,575,000 after purchasing an additional 1,218,485 shares in the last quarter. Invesco Ltd. grew its stake in shares of Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after purchasing an additional 1,167,105 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Textron during the fourth quarter worth $41,451,000. D. E. Shaw & Co. Inc. grew its stake in shares of Textron by 97.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company’s stock worth $78,872,000 after purchasing an additional 510,085 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.