Brokerages Set Textron Inc. (NYSE:TXT) Target Price at $93.45

Shares of Textron Inc. (NYSE:TXT) have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $93.45.

TXT has been the topic of several recent research reports. Citigroup decreased their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Robert W. Baird reduced their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Susquehanna reduced their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th.

Textron Price Performance

Textron stock opened at $73.07 on Wednesday. Textron has a 52 week low of $70.14 and a 52 week high of $97.34. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $74.88 and its 200 day simple moving average is $80.71. The firm has a market capitalization of $13.27 billion, a PE ratio of 16.95, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities research analysts predict that Textron will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Textron

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in shares of Textron by 17.8% during the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock valued at $591,523,000 after buying an additional 1,167,105 shares during the last quarter. Boston Partners boosted its stake in shares of Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock valued at $572,465,000 after buying an additional 333,127 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Textron by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock valued at $350,619,000 after buying an additional 164,964 shares during the last quarter. Brandes Investment Partners LP boosted its stake in shares of Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after buying an additional 302,712 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Textron by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock valued at $137,971,000 after buying an additional 155,384 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.