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

Shares of Textron Inc. (NYSE:TXT) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $95.63.

Several analysts recently weighed in on the company. Susquehanna lowered their price objective on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Friday. Bank of America raised Textron from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $105.00 in a report on Friday, March 8th. Citigroup upped their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, UBS Group upped their target price on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th.

Textron Stock Up 1.9 %

Shares of Textron stock opened at $86.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.41. The firm has a market cap of $16.64 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.33 and a beta of 1.30. Textron has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The business has a 50-day moving average price of $92.10 and a 200 day moving average price of $83.90.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. On average, sell-side analysts forecast that Textron will post 6.3 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s dividend payout ratio (DPR) is 1.71%.

Hedge Funds Weigh In On Textron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXT. Metis Global Partners LLC lifted its position in Textron by 12.8% in the third quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock worth $796,000 after purchasing an additional 1,158 shares during the period. LSV Asset Management lifted its position in Textron by 7.6% in the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock worth $255,656,000 after purchasing an additional 230,560 shares during the period. Deutsche Bank AG lifted its position in Textron by 36.9% in the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock worth $42,367,000 after purchasing an additional 146,055 shares during the period. AustralianSuper Pty Ltd lifted its position in Textron by 13.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after purchasing an additional 11,510 shares during the period. Finally, SG Americas Securities LLC lifted its position in Textron by 269.1% in the fourth quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after purchasing an additional 15,235 shares during the period. 86.03% of the stock is 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.