Textron Inc. (NYSE:TXT) Receives $101.56 Consensus Target Price from Brokerages

Shares of Textron Inc. (NYSE:TXT) have received a consensus recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $101.56.

A number of brokerages recently weighed in on TXT. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. decreased their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, Robert W. Baird dropped their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th.

Institutional Investors Weigh In On Textron

Several large investors have recently modified their holdings of TXT. Innealta Capital LLC purchased a new position in Textron during the second quarter valued at approximately $25,000. True Wealth Design LLC purchased a new position in shares of Textron in the 3rd quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Textron in the 2nd quarter valued at $30,000. Oakworth Capital Inc. bought a new position in shares of Textron in the 2nd quarter worth $31,000. Finally, Family Firm Inc. purchased a new stake in shares of Textron during the 2nd quarter worth $40,000. Institutional investors own 86.03% of the company’s stock.

Textron Trading Up 0.7 %

Shares of TXT stock opened at $81.86 on Thursday. The stock has a fifty day simple moving average of $86.13 and a two-hundred day simple moving average of $87.25. Textron has a 52-week low of $74.13 and a 52-week high of $97.33. The firm has a market capitalization of $15.19 billion, a PE ratio of 17.99, a PEG ratio of 1.53 and a beta of 1.24. 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 issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the business posted $1.49 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts predict that Textron will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

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