Textron Inc. (NYSE:TXT) Receives $100.90 Average Price Target from Brokerages

Textron Inc. (NYSE:TXT) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $100.00.

TXT has been the subject of several recent research reports. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Monday. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Thursday, December 19th. Barclays dropped their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, UBS Group decreased their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brandes Investment Partners LP boosted its stake in Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after buying an additional 258,778 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after purchasing an additional 231,173 shares in the last quarter. Fidelity National Financial Inc. bought a new stake in Textron in the second quarter worth $19,748,000. Distillate Capital Partners LLC raised its stake in Textron by 101,299.4% during the second quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock valued at $14,278,000 after purchasing an additional 166,131 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after purchasing an additional 160,923 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Up 0.2 %

TXT stock opened at $75.58 on Friday. The business’s 50-day moving average is $81.73 and its two-hundred day moving average is $85.63. The company has a market cap of $14.02 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.46 and a beta of 1.27. Textron has a fifty-two week low of $75.00 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 earnings per share. As a group, analysts forecast that Textron will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Friday, December 13th. Textron’s payout ratio is currently 1.76%.

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.