Analysts Set Textron Inc. (NYSE:TXT) Price Target at $93.45

Shares of Textron Inc. (NYSE:TXT) have earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $93.45.

Several equities analysts recently issued reports on TXT shares. Robert W. Baird reduced their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and reduced their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, Morgan Stanley reduced their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd.

Textron Price Performance

TXT stock opened at $74.76 on Friday. The firm’s 50-day moving average price is $75.73 and its two-hundred day moving average price is $82.32. Textron has a 12-month low of $71.67 and a 12-month high of $97.33. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.18 and a beta of 1.27. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the company earned $1.60 earnings per share. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts predict that Textron will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s payout ratio is presently 1.86%.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Trading of Textron

A number of hedge funds and other institutional investors have recently modified their holdings of TXT. Creative Planning increased its stake in shares of Textron by 0.4% in the third quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after purchasing an additional 165 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Textron by 73.3% in the third quarter. Blue Trust Inc. now owns 1,915 shares of the aerospace company’s stock worth $164,000 after purchasing an additional 810 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Textron by 21.3% in the third quarter. Foundations Investment Advisors LLC now owns 4,103 shares of the aerospace company’s stock worth $363,000 after purchasing an additional 721 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Textron by 10.2% in the third quarter. Private Advisor Group LLC now owns 15,948 shares of the aerospace company’s stock worth $1,413,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Textron by 14.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 8,669 shares of the aerospace company’s stock worth $768,000 after purchasing an additional 1,122 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other 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.