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

Textron Inc. (NYSE:TXT) has earned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $92.6667.

TXT has been the subject of several research reports. Barclays lifted their price objective on Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $85.00 price objective (down from $95.00) on shares of Textron in a report on Tuesday, July 1st. Susquehanna boosted their price target on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Wall Street Zen cut Textron from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 26th. Finally, UBS Group raised Textron from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $88.00 in a report on Monday, July 28th.

Insider Buying and Selling

In related news, EVP Julie G. Duffy sold 28,543 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the transaction, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Textron

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXT. CANADA LIFE ASSURANCE Co boosted its position in shares of Textron by 10.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 76,390 shares of the aerospace company’s stock worth $6,138,000 after buying an additional 7,004 shares during the period. Corient Private Wealth LLC boosted its position in shares of Textron by 96.1% in the second quarter. Corient Private Wealth LLC now owns 67,038 shares of the aerospace company’s stock worth $5,382,000 after buying an additional 32,851 shares during the period. Captrust Financial Advisors boosted its position in shares of Textron by 24.2% in the second quarter. Captrust Financial Advisors now owns 137,500 shares of the aerospace company’s stock worth $11,040,000 after buying an additional 26,789 shares during the period. Vident Advisory LLC boosted its position in shares of Textron by 33.3% in the second quarter. Vident Advisory LLC now owns 406,658 shares of the aerospace company’s stock worth $32,651,000 after buying an additional 101,546 shares during the period. Finally, Snowden Capital Advisors LLC purchased a new stake in shares of Textron in the second quarter worth about $667,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Down 1.7%

Textron stock opened at $78.95 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. Textron has a 1-year low of $57.70 and a 1-year high of $91.48. The company has a market cap of $14.07 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16. The stock’s 50 day moving average price is $80.18 and its 200 day moving average price is $74.74.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Textron will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron’s dividend payout ratio is presently 1.81%.

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.