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

Shares of Textron Inc. (NYSE:TXT) have received a consensus rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $101.50.

Several brokerages have recently commented on TXT. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a report on Thursday, August 8th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Bank of America lifted their price objective on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. TD Cowen cut Textron from a “buy” rating to a “hold” rating and reduced their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, Citigroup lifted their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Textron Stock Performance

NYSE TXT opened at $87.75 on Wednesday. The company’s 50 day simple moving average is $88.26 and its two-hundred day simple moving average is $89.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. Textron has a 1 year low of $74.13 and a 1 year high of $97.33. The stock has a market capitalization of $16.44 billion, a PE ratio of 18.75, a P/E/G ratio of 1.38 and a beta of 1.23.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the business posted $1.46 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Analysts predict that Textron will post 6.26 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is currently 1.71%.

Institutional Investors Weigh In On Textron

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its stake in Textron by 263.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock worth $1,283,000 after purchasing an additional 9,692 shares during the period. Studio Investment Management LLC bought a new stake in Textron during the 4th quarter valued at $1,223,000. Portfolio Design Labs LLC purchased a new stake in Textron during the 4th quarter valued at $3,140,000. SG Americas Securities LLC grew its holdings in Textron by 461.1% in the 1st quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock worth $11,248,000 after acquiring an additional 96,361 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after acquiring an additional 260,003 shares during the period. Institutional investors own 86.03% of the company’s stock.

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.