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

Shares of Textron Inc. (NYSE:TXT) have earned an average rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. One equities 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 twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $101.56.

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

Hedge Funds Weigh In On Textron

A number of hedge funds have recently made changes to their positions in TXT. Envestnet Portfolio Solutions Inc. raised its stake in Textron by 263.6% in the 1st 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 last quarter. SG Americas Securities LLC lifted its stake in shares of 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 buying an additional 96,361 shares in the last quarter. LSV Asset Management boosted its position in Textron by 6.9% during 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 grew its stake in Textron by 579.5% during the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock valued at $4,862,000 after acquiring an additional 43,225 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings in Textron by 259.2% in the 1st quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company’s stock valued at $1,666,000 after acquiring an additional 12,532 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Trading Up 1.1 %

NYSE TXT opened at $82.35 on Friday. The company has a fifty day moving average of $87.70 and a 200 day moving average of $88.03. The company has a market capitalization of $15.43 billion, a PE ratio of 17.45, a P/E/G ratio of 1.43 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 issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.06). The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.49 EPS. Research analysts forecast that Textron will post 6.1 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.02 dividend. 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 1.69%.

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.