Textron Inc. (NYSE:TXT) Receives $93.45 Consensus Target Price from Analysts

Shares of Textron Inc. (NYSE:TXT) have been given an average rating of “Hold” by the eleven research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $93.45.

Several analysts have issued reports on the stock. Citigroup lowered their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Monday, February 24th. Morgan Stanley lowered their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Barclays lowered 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. Finally, Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Textron

Several hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in Textron by 17.8% in 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 during the last quarter. Boston Partners increased its position in shares of Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock valued at $572,465,000 after acquiring an additional 333,127 shares during the period. Geode Capital Management LLC increased its position in shares of Textron by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock valued at $350,619,000 after acquiring an additional 164,964 shares during the period. Brandes Investment Partners LP increased its position in shares of Textron by 19.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after acquiring an additional 302,712 shares during the period. Finally, Northern Trust Corp increased its position in shares of Textron by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock valued at $137,971,000 after acquiring an additional 155,384 shares during the period. 86.03% of the stock is owned by institutional investors.

Textron Stock Up 2.1 %

TXT opened at $74.76 on Friday. The company has a 50 day moving average of $75.73 and a 200 day moving average of $82.32. The company has a market cap of $13.65 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron has a 12 month low of $71.67 and a 12 month high of $97.33. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the company posted $1.60 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, sell-side analysts expect that Textron will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s dividend payout ratio is presently 1.86%.

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.