Textron Inc. (NYSE:TXT) Receives Average Recommendation of “Hold” from Brokerages

Textron Inc. (NYSE:TXT) has received an average recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $93.45.

A number of equities analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Barclays decreased their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Monday. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th.

Textron Price Performance

TXT opened at $72.99 on Friday. The company has a market capitalization of $13.33 billion, a P/E ratio of 16.94, a PEG ratio of 1.18 and a beta of 1.27. The company has a 50-day moving average of $75.83 and a 200-day moving average of $82.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron has a 1-year low of $71.67 and a 1-year high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period 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. Equities analysts expect that Textron will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is 1.86%.

Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Textron

Institutional investors have recently made changes to their positions in the stock. Empirical Finance LLC raised its holdings in Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after purchasing an additional 115 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after buying an additional 125 shares in the last quarter. Pflug Koory LLC raised its stake in shares of Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after buying an additional 125 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after buying an additional 141 shares during the period. Finally, Syon Capital LLC boosted its stake in Textron by 4.5% during the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock valued at $271,000 after buying an additional 153 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

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.