Analysts Set Textron Inc. (NYSE:TXT) Target Price at $99.29

Textron Inc. (NYSE:TXT) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $99.29.

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. The Goldman Sachs Group increased their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Susquehanna lowered their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, April 26th. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th.

Insider Buying and Selling

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC acquired a new stake in shares of Textron during the fourth quarter worth $29,000. Trust Co. of Vermont acquired a new stake in shares of Textron in the 3rd quarter valued at about $37,000. Morton Brown Family Wealth LLC bought a new stake in shares of Textron in the fourth quarter valued at about $40,000. Jones Financial Companies Lllp boosted its position in shares of Textron by 200.0% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after buying an additional 338 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Textron by 677.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock worth $44,000 after buying an additional 474 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

Shares of Textron stock opened at $94.00 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $87.13 and a 200 day simple moving average of $87.69. Textron has a fifty-two week low of $67.04 and a fifty-two week high of $97.33. The firm has a market cap of $17.93 billion, a P/E ratio of 20.09, a P/E/G ratio of 1.41 and a beta of 1.25.

Textron (NYSE:TXT) last released its 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). Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the business posted $1.05 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Friday, June 14th. Textron’s dividend payout ratio (DPR) is 1.71%.

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.