Textron (NYSE:TXT) Price Target Raised to $95.00

Textron (NYSE:TXT) had its target price raised by Jefferies Financial Group from $85.00 to $95.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

A number of other equities research analysts also recently commented on the company. UBS Group increased their price objective on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research report on Monday, April 28th. TD Cowen raised Textron to a “hold” rating in a report on Monday, February 24th. Citigroup decreased their price target on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley cut their price objective on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Textron Stock Down 0.6%

Shares of TXT stock opened at $77.32 on Thursday. Textron has a 1 year low of $57.70 and a 1 year high of $94.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The business’s fifty day moving average is $71.50 and its 200-day moving average is $74.26. The stock has a market cap of $13.96 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the business earned $1.20 earnings per share. Textron’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts expect that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio (DPR) is presently 1.81%.

Institutional Trading of Textron

Institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Textron during the 1st quarter worth about $25,000. SBI Securities Co. Ltd. bought a new position in Textron during the fourth quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd lifted its stake in Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock valued at $39,000 after acquiring an additional 262 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Textron in the first quarter valued at approximately $41,000. Finally, Optiver Holding B.V. acquired a new position in shares of Textron during the 4th quarter worth $56,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.