Textron (NYSE:TXT) Price Target Lowered to $110.00 at Jefferies Financial Group

Textron (NYSE:TXT) had its target price cut by Jefferies Financial Group from $115.00 to $110.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

TXT has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price target on Textron from $88.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. UBS Group upped their price objective on shares of Textron from $89.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. Morgan Stanley set a $92.00 price objective on shares of Textron in a research note on Thursday, January 29th. Wells Fargo & Company assumed coverage on shares of Textron in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $92.00 price objective for the company. Finally, Citigroup upped their price objective on shares of Textron from $97.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $98.18.

Textron Stock Performance

Shares of TXT stock opened at $87.61 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 0.99 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average price of $93.13 and a 200 day moving average price of $88.24. The company has a market cap of $15.25 billion, a P/E ratio of 17.14, a PEG ratio of 1.33 and a beta of 0.97. Textron has a 12 month low of $59.94 and a 12 month high of $101.57.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 28th. The aerospace company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.01). The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.11 billion. Textron had a net margin of 6.22% and a return on equity of 14.63%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. Sell-side analysts predict that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, March 13th. Textron’s dividend payout ratio is presently 1.57%.

Insiders Place Their Bets

In other news, CEO Lisa M. Atherton sold 7,600 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $98.68, for a total transaction of $749,968.00. Following the completion of the sale, the chief executive officer owned 29,473 shares in the company, valued at approximately $2,908,395.64. This represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Scott C. Donnelly sold 219,619 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $98.41, for a total transaction of $21,612,705.79. Following the sale, the chairman owned 742,418 shares of the company’s stock, valued at $73,061,355.38. This trade represents a 22.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 304,473 shares of company stock valued at $29,976,723. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Textron

Hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its holdings in shares of Textron by 10.3% during the third quarter. Envestnet Asset Management Inc. now owns 166,532 shares of the aerospace company’s stock worth $14,070,000 after purchasing an additional 15,550 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Textron by 6.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 695,962 shares of the aerospace company’s stock valued at $58,802,000 after purchasing an additional 39,389 shares during the period. CWA Asset Management Group LLC acquired a new stake in Textron in the fourth quarter valued at about $1,988,000. Rakuten Investment Management Inc. acquired a new stake in Textron in the third quarter valued at about $5,018,000. Finally, Baxter Bros Inc. lifted its position in Textron by 45.8% in the third quarter. Baxter Bros Inc. now owns 39,865 shares of the aerospace company’s stock valued at $3,368,000 after purchasing an additional 12,530 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

About Textron

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.