Brokerages Set Textron Inc. (NYSE:TXT) PT at $95.63

Textron Inc. (NYSE:TXT) has received a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $95.63.

A number of equities research analysts recently weighed in on TXT shares. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $105.00 in a report on Friday, March 8th. UBS Group increased their price objective on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Citigroup upped their price objective on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group boosted their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th.

Institutional Trading of Textron

A number of institutional investors have recently made changes to their positions in the stock. CVA Family Office LLC purchased a new stake in Textron during the fourth quarter valued at about $29,000. Global Retirement Partners LLC grew its position in Textron by 393.9% during the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 390 shares in the last quarter. Trust Co. of Vermont acquired a new stake in Textron during the 3rd quarter valued at $37,000. Provence Wealth Management Group purchased a new stake in shares of Textron in the third quarter valued at $39,000. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Textron in the fourth quarter worth $40,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

NYSE TXT opened at $85.59 on Friday. Textron has a twelve month low of $61.27 and a twelve month high of $97.33. The business’s 50-day moving average price is $92.10 and its 200 day moving average price is $84.09. The company has a market capitalization of $16.32 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.35 and a beta of 1.32. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts predict that Textron will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.02 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

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.