Textron Inc. (NYSE:TXT) Receives Consensus Rating of “Hold” from Brokerages

Textron Inc. (NYSE:TXT) has earned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $101.56.

Several equities research analysts recently issued reports on TXT shares. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. Robert W. Baird cut their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, UBS Group lowered their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Textron by 263.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock valued at $1,283,000 after purchasing an additional 9,692 shares during the period. SG Americas Securities LLC lifted its stake in Textron by 461.1% in the first quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock worth $11,248,000 after acquiring an additional 96,361 shares during the last quarter. LSV Asset Management lifted its stake in Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after acquiring an additional 260,003 shares during the last quarter. Cetera Investment Advisers lifted its stake in Textron by 579.5% in the first quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after acquiring an additional 43,225 shares during the last quarter. Finally, Virtu Financial LLC lifted its stake in Textron by 259.2% in the first quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company’s stock worth $1,666,000 after acquiring an additional 12,532 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Up 1.1 %

Shares of TXT stock opened at $82.35 on Friday. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. Textron has a twelve month low of $74.13 and a twelve month high of $97.33. The company’s 50-day moving average price is $87.70 and its 200-day moving average price is $88.03. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.43 and a beta of 1.23.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.06). Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the business posted $1.49 earnings per share. Textron’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts predict that Textron will post 6.1 earnings per share for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s payout ratio is 1.69%.

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.