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

Textron Inc. (NYSE:TXT) has earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $88.36.

TXT has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a report on Monday, April 28th. Morgan Stanley lowered their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Jefferies Financial Group restated a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Finally, Citigroup lowered their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, April 10th.

Institutional Investors Weigh In On Textron

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Textron by 50.2% in the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock valued at $46,137,000 after buying an additional 201,696 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Textron by 8.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 302,603 shares of the aerospace company’s stock valued at $22,916,000 after buying an additional 24,053 shares during the last quarter. HUB Investment Partners LLC increased its stake in Textron by 30.3% in the 4th quarter. HUB Investment Partners LLC now owns 30,026 shares of the aerospace company’s stock valued at $2,297,000 after buying an additional 6,990 shares during the last quarter. Graham Capital Management L.P. increased its stake in Textron by 166.8% in the 4th quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company’s stock valued at $5,125,000 after buying an additional 41,888 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Textron by 12.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 89,780 shares of the aerospace company’s stock worth $6,867,000 after purchasing an additional 9,807 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

TXT stock opened at $80.36 on Friday. The stock has a market capitalization of $14.51 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. The company’s 50-day moving average is $73.76 and its 200-day moving average is $73.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. Textron has a 1 year low of $57.70 and a 1 year high of $94.57.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. Equities research analysts expect that Textron will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio (DPR) is 1.81%.

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.