Brokerages Set Textron Inc. (NYSE:TXT) PT at $101.56

Textron Inc. (NYSE:TXT) has received an average rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $101.56.

Several research analysts recently weighed in on TXT shares. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Robert W. Baird dropped their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. TD Cowen cut Textron from a “buy” rating to a “hold” rating and decreased their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. Citigroup lifted their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Bank of America upped their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd.

Textron Stock Performance

Shares of NYSE:TXT opened at $83.34 on Thursday. The business has a fifty day moving average of $86.32 and a 200-day moving average of $87.31. 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 has a twelve month low of $74.13 and a twelve month high of $97.33. The firm has a market cap of $15.46 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the company earned $1.49 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Textron will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s payout ratio is currently 1.76%.

Institutional Trading of Textron

A number of hedge funds have recently modified their holdings of TXT. Innealta Capital LLC bought a new stake in Textron in the second quarter valued at approximately $25,000. True Wealth Design LLC acquired a new position in shares of Textron in the 3rd quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron in the 2nd quarter valued at $30,000. Oakworth Capital Inc. acquired a new stake in Textron during the 2nd quarter worth $31,000. Finally, Family Firm Inc. bought a new position in Textron during the second quarter worth about $40,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.