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

Textron Inc. (NYSE:TXT – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $81.67.

A number of research firms have commented on TXT. Wolfe Research began coverage on Textron in a research report on Thursday, April 6th. They issued a “peer perform” rating on the stock. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 6th.

Textron Trading Down 1.8 %

Shares of NYSE:TXT opened at $63.29 on Friday. The company has a market capitalization of $12.76 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.16 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.90 and a quick ratio of 0.99. The business’s 50 day simple moving average is $68.03 and its 200 day simple moving average is $70.06. Textron has a 1 year low of $57.11 and a 1 year high of $76.11.

Textron (NYSE:TXT – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The aerospace company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.10. Textron had a net margin of 6.66% and a return on equity of 12.82%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. Textron’s revenue was up .8% compared to the same quarter last year. On average, research analysts anticipate that Textron will post 5.07 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 9th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.13%. The ex-dividend date is Thursday, June 8th. Textron’s dividend payout ratio is presently 1.98%.

Insider Activity

In other Textron news, CEO Scott C. Donnelly sold 222,319 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $73.35, for a total transaction of $16,307,098.65. Following the transaction, the chief executive officer now directly owns 683,136 shares of the company’s stock, valued at approximately $50,108,025.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Textron news, CFO Frank T. Connor sold 63,361 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $73.35, for a total transaction of $4,647,529.35. Following the completion of the transaction, the chief financial officer now owns 151,455 shares of the company’s stock, valued at $11,109,224.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott C. Donnelly sold 222,319 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $73.35, for a total transaction of $16,307,098.65. Following the sale, the chief executive officer now owns 683,136 shares in the company, valued at approximately $50,108,025.60. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Tennessee Treasury Department raised its holdings in shares of Textron by 0.7% during the first quarter. State of Tennessee Treasury Department now owns 171,509 shares of the aerospace company’s stock valued at $12,114,000 after purchasing an additional 1,144 shares during the last quarter. Gabelli Funds LLC raised its holdings in Textron by 3.1% in the 1st quarter. Gabelli Funds LLC now owns 1,000,580 shares of the aerospace company’s stock worth $70,671,000 after purchasing an additional 29,880 shares during the period. Stifel Financial Corp raised its holdings in Textron by 22.5% in the 1st quarter. Stifel Financial Corp now owns 179,096 shares of the aerospace company’s stock worth $12,650,000 after purchasing an additional 32,850 shares during the period. Advisors Asset Management Inc. raised its holdings in Textron by 24.0% in the 1st quarter. Advisors Asset Management Inc. now owns 19,638 shares of the aerospace company’s stock worth $1,387,000 after purchasing an additional 3,796 shares during the period. Finally, BlackRock Inc. increased its holdings in Textron by 2.9% in the 1st quarter. BlackRock Inc. now owns 18,231,026 shares of the aerospace company’s stock worth $1,287,657,000 after acquiring an additional 519,468 shares in the last quarter. 84.69% of the stock is owned by institutional investors.

About Textron

(Get Rating)

Textron, Inc is a multi-industry company, which leverages a global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Textron eAviation.