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

Textron Inc. (NYSE:TXT) has been assigned a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $92.1538.

A number of research firms have recently issued reports on TXT. TD Cowen reduced their price target on shares of Textron from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, October 24th. Wall Street Zen upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday. UBS Group decreased their target price on shares of Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. Finally, Barclays lifted their price objective on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th.

Institutional Trading of Textron

A number of institutional investors have recently added to or reduced their stakes in TXT. True Wealth Design LLC boosted its stake in shares of Textron by 388.5% during the 3rd quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 237 shares in the last quarter. Assetmark Inc. lifted its holdings in Textron by 191.9% in the 2nd quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 213 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Textron during the second quarter worth approximately $27,000. Banque Cantonale Vaudoise bought a new stake in Textron during the first quarter worth approximately $25,000. Finally, Quent Capital LLC acquired a new position in Textron during the third quarter valued at approximately $33,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Price Performance

Shares of NYSE:TXT opened at $79.94 on Thursday. The company’s fifty day moving average is $82.37 and its two-hundred day moving average is $78.53. The company has a market cap of $14.09 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. Textron has a 12-month low of $57.70 and a 12-month high of $89.28. The company has a quick ratio of 0.86, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.08. Textron had a return on equity of 14.16% and a net margin of 5.81%.The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. Textron’s quarterly revenue was up 5.1% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts expect that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s payout ratio is presently 1.76%.

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.