Textron Inc. (NYSE:TXT) Given Consensus Recommendation of “Hold” by Brokerages

Textron Inc. (NYSE:TXT) has earned a consensus rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $87.70.

A number of research analysts have commented on the stock. UBS Group raised their price target on shares of Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a research note on Monday, April 28th. Morgan Stanley cut their price target on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Robert W. Baird cut their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Citigroup cut their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, April 10th.

Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s 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 completion of the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Gabelli Funds LLC raised its position in Textron by 0.8% in the 1st quarter. Gabelli Funds LLC now owns 973,952 shares of the aerospace company’s stock worth $70,368,000 after purchasing an additional 7,500 shares during the last quarter. Harvest Portfolios Group Inc. raised its position in Textron by 12.5% in the 1st quarter. Harvest Portfolios Group Inc. now owns 23,577 shares of the aerospace company’s stock worth $1,703,000 after purchasing an additional 2,618 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Textron by 8.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 44,100 shares of the aerospace company’s stock worth $3,186,000 after purchasing an additional 3,300 shares during the last quarter. AlphaQuest LLC raised its position in Textron by 7.5% in the 1st quarter. AlphaQuest LLC now owns 8,313 shares of the aerospace company’s stock worth $601,000 after purchasing an additional 578 shares during the last quarter. Finally, Allstate Corp raised its position in Textron by 14.6% in the 1st quarter. Allstate Corp now owns 6,192 shares of the aerospace company’s stock worth $447,000 after purchasing an additional 788 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Down 1.7%

TXT stock opened at $75.25 on Thursday. The company has a market cap of $13.59 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron has a twelve month low of $57.70 and a twelve month high of $94.57. The business’s 50-day simple moving average is $69.92 and its 200 day simple moving average is $75.74.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. On average, research analysts anticipate that Textron will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio (DPR) is currently 1.81%.

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.