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

Textron Inc. (NYSE:TXT) has been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $101.50.

A number of brokerages recently issued reports on TXT. Bank of America lifted their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup boosted their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, UBS Group boosted their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th.

Textron Stock Performance

Shares of NYSE:TXT opened at $87.45 on Wednesday. The company’s 50 day simple moving average is $88.10 and its 200 day simple moving average is $89.07. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. Textron has a 1 year low of $74.13 and a 1 year high of $97.33.

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, beating analysts’ consensus estimates of $1.48 by $0.06. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. As a group, research analysts predict that Textron will post 6.18 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.71%.

Hedge Funds Weigh In On Textron

Hedge funds have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. lifted its holdings in 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 buying an additional 9,692 shares during the period. Studio Investment Management LLC acquired a new position in Textron in the fourth quarter valued at $1,223,000. Portfolio Design Labs LLC acquired a new position in Textron in the fourth quarter valued at $3,140,000. SG Americas Securities LLC lifted its holdings in Textron by 461.1% in the first quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock valued at $11,248,000 after buying an additional 96,361 shares during the period. Finally, LSV Asset Management lifted its holdings in Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after buying an additional 260,003 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.