Brokerages Set Textron Inc. (NYSE:TXT) PT at $93.45

Shares of Textron Inc. (NYSE:TXT) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $93.45.

TXT has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Citigroup dropped their target price on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Susquehanna dropped their target price on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Robert W. Baird dropped their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The stock was 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 trade represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Textron

Hedge funds and other institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC boosted its position in shares of Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after purchasing an additional 265 shares during the period. Empowered Funds LLC boosted its position in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after acquiring an additional 4,480 shares during the period. Franklin Resources Inc. boosted its position in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after acquiring an additional 15,294 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Textron by 44.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after acquiring an additional 5,367 shares during the period. Finally, Todd Asset Management LLC boosted its position in Textron by 1.8% during the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after acquiring an additional 8,198 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

Shares of TXT opened at $73.07 on Wednesday. The business’s fifty day moving average price is $74.88 and its 200 day moving average price is $80.60. Textron has a 12-month low of $70.14 and a 12-month high of $97.34. The stock has a market capitalization of $13.27 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the business posted $1.60 earnings per share. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities research analysts forecast that Textron will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s payout ratio is currently 1.86%.

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.