Textron (NYSE:TXT) Price Target Increased to $103.00 by Analysts at TD Cowen

Textron (NYSE:TXT) had its target price increased by TD Cowen from $100.00 to $103.00 in a report published on Friday, Benzinga reports. TD Cowen currently has a buy rating on the aerospace company’s stock.

Several other brokerages have also commented on TXT. StockNews.com lowered Textron from a strong-buy rating to a buy rating in a research note on Friday, April 26th. The Goldman Sachs Group lifted their price target on shares of Textron from $103.00 to $120.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Susquehanna dropped their price objective on shares of Textron from $110.00 to $105.00 and set a positive rating for the company in a research report on Friday, April 26th. Finally, Citigroup lifted their target price on shares of Textron from $104.00 to $111.00 and gave the company a buy rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $100.50.

Textron Trading Down 2.5 %

Shares of TXT stock opened at $90.33 on Friday. The firm’s 50-day simple moving average is $87.36 and its 200-day simple moving average is $87.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.64 and a quick ratio of 0.84. Textron has a 1-year low of $67.04 and a 1-year high of $97.33. The firm has a market cap of $17.23 billion, a P/E ratio of 19.30, a PEG ratio of 1.43 and a beta of 1.25.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the firm posted $1.46 earnings per share. Textron’s revenue was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Textron will post 6.29 EPS for the current year.

Textron Dividend Announcement

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

Insider Activity

In related 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 transaction, the director now owns 3,756 shares in the company, valued at $330,189.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Trading of Textron

Institutional investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. increased its position in shares of Textron by 263.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock worth $1,283,000 after purchasing an additional 9,692 shares during the last quarter. SageView Advisory Group LLC acquired a new position in shares of Textron in the 4th quarter worth approximately $922,000. Studio Investment Management LLC bought a new stake in shares of Textron in the 4th quarter valued at approximately $1,223,000. Charles Schwab Investment Management Inc. raised its position in shares of Textron by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock valued at $136,085,000 after acquiring an additional 19,769 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in Textron by 13.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after purchasing an additional 11,510 shares during the last quarter. 86.03% of the stock is 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.