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

Shares of Textron Inc. (NYSE:TXT) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $101.56.

A number of analysts have recently issued reports on TXT shares. StockNews.com downgraded 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 shares of 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 lowered shares of Textron from a “buy” rating to a “hold” rating and decreased their price target for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, UBS Group reduced their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th.

Textron Stock Performance

Shares of TXT stock opened at $82.66 on Monday. The firm’s 50 day moving average is $85.49 and its 200 day moving average is $86.96. The stock has a market capitalization of $15.33 billion, a P/E ratio of 18.17, a PEG ratio of 1.49 and a beta of 1.25. Textron has a 12 month low of $75.70 and a 12 month high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company posted $1.49 EPS. On average, sell-side analysts anticipate that Textron will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $0.02 dividend. 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 dividend payout ratio is currently 1.76%.

Institutional Trading of Textron

Several hedge funds and other institutional investors have recently bought and sold shares of TXT. Innealta Capital LLC purchased a new stake in Textron in the 2nd quarter worth approximately $25,000. True Wealth Design LLC bought a new stake in Textron in the third quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron during the 2nd quarter valued at $30,000. Oakworth Capital Inc. bought a new position in Textron in the 2nd quarter worth $31,000. Finally, Family Firm Inc. purchased a new stake in shares of Textron in the 2nd quarter worth about $40,000. Institutional investors 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.