Textron’s (TXT) “Neutral” Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of Textron (NYSE:TXT) in a research note issued to investors on Tuesday, MarketBeat reports. The Goldman Sachs Group currently has a $85.00 target price on the aerospace company’s stock, down from their prior target price of $95.00.

Other research analysts have also issued reports about the company. UBS Group lifted their target price on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a report on Monday, April 28th. Morgan Stanley decreased their price target on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Citigroup decreased their price target on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $95.00 price target (up from $85.00) on shares of Textron in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.08.

Textron Trading Up 0.8%

NYSE:TXT opened at $80.97 on Tuesday. The firm has a market cap of $14.62 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.31 and a beta of 1.17. The stock has a fifty day moving average price of $74.68 and a 200 day moving average price of $73.85. Textron has a 12-month low of $57.70 and a 12-month high of $94.57. The company has a current ratio of 1.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last released its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.77% and a net margin of 5.98%. Textron’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $1.20 earnings per share. Sell-side analysts anticipate that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date was Friday, June 13th. Textron’s payout ratio is 1.81%.

Hedge Funds Weigh In On Textron

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXT. Syon Capital LLC boosted its stake in shares of Textron by 4.5% during the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock worth $271,000 after acquiring an additional 153 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Textron by 10.3% during the 1st quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company’s stock worth $120,000 after acquiring an additional 156 shares in the last quarter. Motley Fool Asset Management LLC boosted its stake in shares of Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock worth $209,000 after acquiring an additional 163 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Textron by 10.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company’s stock worth $144,000 after acquiring an additional 175 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Textron by 7.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company’s stock worth $207,000 after acquiring an additional 197 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.