Analysts Set Textron Inc. (NYSE:TXT) Target Price at $95.63

Textron Inc. (NYSE:TXT) has been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $95.63.

A number of brokerages have recently weighed in on TXT. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. Susquehanna cut their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, April 26th. UBS Group increased their target price 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. Finally, Citigroup boosted their price target on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th.

Textron Trading Down 2.1 %

Textron stock opened at $84.58 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $92.12 and a two-hundred day moving average price of $83.98. The firm has a market capitalization of $16.13 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.36 and a beta of 1.30. Textron has a 52-week low of $61.27 and a 52-week high of $97.33.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. Sell-side analysts expect that Textron will post 6.29 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio is currently 1.71%.

Institutional Trading of Textron

A number of hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. lifted its holdings in Textron by 93.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock valued at $115,193,000 after purchasing an additional 713,169 shares during the last quarter. Swiss National Bank acquired a new position in Textron during the third quarter valued at approximately $50,696,000. JPMorgan Chase & Co. grew its holdings in Textron by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after purchasing an additional 596,214 shares during the period. LSV Asset Management grew its holdings in Textron by 15.9% during the fourth quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after purchasing an additional 521,276 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Textron during the fourth quarter valued at approximately $394,347,000. 86.03% of the stock is owned by institutional investors.

Textron Company Profile

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.