Textron Inc. (NYSE:TXT) Given Average Rating of “Moderate Buy” by Analysts

Textron Inc. (NYSE:TXT) has received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $102.50.

TXT has been the subject of a number of recent analyst reports. Morgan Stanley cut 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. Bank of America raised their target price on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. TD Cowen raised their price objective 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. Citigroup increased their target price on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th.

Textron Stock Performance

TXT opened at $84.83 on Tuesday. The firm has a market capitalization of $15.89 billion, a PE ratio of 18.13, a PEG ratio of 1.35 and a beta of 1.25. Textron has a 52-week low of $73.78 and a 52-week high of $97.33. The business’s 50-day simple moving average is $87.60 and its 200 day simple moving average is $88.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 earnings per share. As a group, sell-side analysts expect that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Insider Transactions at Textron

In related news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the transaction, the director now directly owns 3,756 shares of the company’s stock, valued at $330,189.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TXT. Lindbrook Capital LLC boosted its position in Textron by 18.6% in the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock valued at $62,000 after buying an additional 122 shares in the last quarter. Altman Advisors Inc. increased its position in Textron by 0.6% during the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after purchasing an additional 129 shares during the period. True Vision MN LLC increased its position in shares of Textron by 2.5% during the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after buying an additional 133 shares during the period. Allworth Financial LP lifted its holdings in Textron by 12.0% in the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock valued at $103,000 after buying an additional 137 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Textron by 0.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after acquiring an additional 146 shares during the period. Institutional investors own 86.03% of the company’s stock.

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.