Textron (NYSE:TXT) PT Raised to $120.00

Textron (NYSE:TXT) had its price objective hoisted by The Goldman Sachs Group from $103.00 to $120.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Other analysts also recently issued reports about the stock. Citigroup lifted their price objective on shares of Textron from $104.00 to $111.00 and gave the company a buy rating in a research report on Thursday, April 4th. Bank of America upgraded shares of Textron from a neutral rating to a buy rating and lifted their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. JPMorgan Chase & Co. lifted their price objective on shares of Textron from $84.00 to $85.00 and gave the company a neutral rating in a research report on Wednesday, December 20th. UBS Group lifted their price objective on shares of Textron from $77.00 to $81.00 and gave the company a sell rating in a research report on Friday, January 26th. Finally, StockNews.com upgraded shares of Textron from a buy rating to a strong-buy rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Textron currently has an average rating of Moderate Buy and a consensus target price of $93.63.

Textron Trading Up 0.2 %

NYSE TXT opened at $93.23 on Tuesday. Textron has a one year low of $61.27 and a one year high of $97.33. The company has a 50-day simple moving average of $91.34 and a 200-day simple moving average of $83.14. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The firm has a market capitalization of $17.94 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. On average, equities analysts forecast that Textron will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.75%.

Institutional Trading of Textron

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its position in shares of Textron by 18.6% during the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after buying an additional 122 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Textron by 12.0% in the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 137 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Textron by 2.9% in the 2nd quarter. Kestra Advisory Services LLC now owns 4,930 shares of the aerospace company’s stock worth $333,000 after purchasing an additional 139 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Textron by 29.2% in the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after purchasing an additional 143 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of Textron by 0.5% in the 1st quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after purchasing an additional 157 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

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.