Textron (NYSE:TXT) Stock Price Target Raised at UBS Group

Textron (NYSE:TXT) had its price target raised by UBS Group from $86.00 to $94.00 in a research report report published on Friday,Benzinga reports. The firm currently has a neutral rating on the aerospace company’s stock.

Several other equities research analysts have also recently issued reports on TXT. Morgan Stanley lowered their target price on shares of Textron from $98.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. TD Cowen lowered their price objective on Textron from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Weiss Ratings cut Textron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 27th. Wall Street Zen downgraded Textron from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Citigroup reduced their price target on Textron from $99.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $99.00.

Textron Stock Down 0.0%

Textron stock opened at $85.68 on Friday. Textron has a 1-year low of $71.87 and a 1-year high of $101.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.80 and a quick ratio of 0.82. The stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.23 and a beta of 0.88. The business has a fifty day moving average price of $78.57 and a 200-day moving average price of $88.32.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 29th. The aerospace company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.33. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.77 billion. Textron had a net margin of 6.30% and a return on equity of 14.34%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 earnings per share. Equities research analysts forecast that Textron will post 6.60 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 11th will be given a $0.02 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron’s payout ratio is currently 1.44%.

Hedge Funds Weigh In On Textron

A number of hedge funds have recently modified their holdings of TXT. Essex Financial Services Inc. increased its position in shares of Textron by 4.9% during the 1st quarter. Essex Financial Services Inc. now owns 2,712 shares of the aerospace company’s stock worth $237,000 after purchasing an additional 127 shares during the last quarter. Wedmont Private Capital boosted its stake in Textron by 4.0% during the second quarter. Wedmont Private Capital now owns 4,896 shares of the aerospace company’s stock worth $445,000 after buying an additional 187 shares during the period. Twin Capital Management Inc. increased its position in shares of Textron by 1.5% during the first quarter. Twin Capital Management Inc. now owns 12,722 shares of the aerospace company’s stock valued at $1,114,000 after acquiring an additional 189 shares during the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Textron by 0.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 53,279 shares of the aerospace company’s stock valued at $4,650,000 after acquiring an additional 220 shares during the period. Finally, Nissay Asset Management Corp Japan raised its stake in shares of Textron by 1.1% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 23,161 shares of the aerospace company’s stock valued at $2,125,000 after acquiring an additional 241 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

About Textron

Textron Inc (NYSE:TXT) is a diversified industrial company that develops and manufactures aircraft, helicopters, specialized vehicles, defense systems and other industrial products. Founded in 1923 by Royal Little, the company has grown through the development and acquisition of businesses serving commercial, government and consumer markets.

Textron Aviation produces business jets, turboprop aircraft and general aviation aircraft under the Cessna and Beechcraft brands. Bell designs and manufactures military and commercial helicopters, tiltrotor aircraft and related support services.