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

Shares of Textron Inc. (NYSE:TXT) have earned an average recommendation of “Hold” from the ten analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $87.70.

A number of equities analysts have recently commented on TXT shares. UBS Group raised their target price on shares of Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research note on Monday, April 28th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Morgan Stanley cut their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Finally, Citigroup cut their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th.

Textron Stock Performance

Shares of TXT stock opened at $74.07 on Monday. The company’s fifty day simple moving average is $70.10 and its 200-day simple moving average is $74.76. Textron has a 52 week low of $57.70 and a 52 week high of $94.57. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a market cap of $13.37 billion, a PE ratio of 17.19, a P/E/G ratio of 1.18 and a beta of 1.20.

Textron (NYSE:TXT) last issued its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Textron will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued 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 is Friday, June 13th. Textron’s payout ratio is 1.81%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise acquired a new position in Textron during the 1st quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in Textron during the 4th quarter worth $31,000. Harvest Fund Management Co. Ltd grew its holdings in Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after acquiring an additional 262 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Textron during the 1st quarter worth $41,000. Finally, Optiver Holding B.V. acquired a new position in Textron during the 4th quarter worth $56,000. 86.03% of the stock is owned by institutional investors and hedge funds.

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.