Brokerages Set Textron Inc. (NYSE:TXT) PT at $102.50

Textron Inc. (NYSE:TXT) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $102.50.

Several brokerages recently commented on TXT. Citigroup boosted their price target on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. TD Cowen boosted their target price on shares of Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. UBS Group raised their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th.

Hedge Funds Weigh In On Textron

Institutional investors and hedge funds have recently bought and sold shares of the stock. Altman Advisors Inc. grew its position in Textron by 0.6% in the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after purchasing an additional 129 shares during the last quarter. True Vision MN LLC increased its stake in Textron by 2.5% during the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock valued at $513,000 after acquiring an additional 133 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Textron by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock valued at $1,558,000 after acquiring an additional 146 shares in the last quarter. Czech National Bank lifted its position in shares of Textron by 0.5% in the 1st quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after acquiring an additional 157 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Textron by 4.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock worth $353,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Trading Down 1.7 %

Shares of NYSE:TXT opened at $85.73 on Friday. The firm has a fifty day moving average of $88.54 and a two-hundred day moving average of $89.28. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron has a 12-month low of $74.13 and a 12-month high of $97.33. The firm has a market capitalization of $16.06 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the company earned $1.46 earnings per share. Textron’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Textron will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is 1.71%.

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.