Textron Inc. (NYSE:TXT) Given Consensus Rating of “Hold” by Brokerages

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

A number of equities research analysts recently commented on the company. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. Robert W. Baird lowered their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. decreased their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th.

Hedge Funds Weigh In On Textron

Hedge funds have recently added to or reduced their stakes in the stock. Easterly Investment Partners LLC grew its position in Textron by 87.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after purchasing an additional 19,304 shares in the last quarter. KBC Group NV bought a new stake in Textron during the third quarter worth $1,797,000. Robeco Institutional Asset Management B.V. lifted its holdings in Textron by 13.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after acquiring an additional 57,967 shares during the period. Marietta Wealth Management LLC purchased a new position in Textron in the second quarter worth $2,644,000. Finally, Los Angeles Capital Management LLC boosted its position in Textron by 6.6% in the third quarter. Los Angeles Capital Management LLC now owns 279,336 shares of the aerospace company’s stock worth $24,744,000 after purchasing an additional 17,346 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 0.5 %

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

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business posted $1.49 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Textron will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

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.