Textron Inc. (NYSE:TXT) Stock Has Average Target Price of $101.09

Shares of Textron Inc. (NYSE:TXT) have received an average recommendation of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $101.09.

Several equities research analysts recently commented on TXT shares. Wall Street Zen downgraded shares of Textron from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. TD Cowen reduced their target price on shares of Textron from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Morgan Stanley upped their price target on shares of Textron from $86.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Citigroup raised their price target on shares of Textron from $86.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Finally, Bank of America reiterated a “neutral” rating and set a $100.00 price target on shares of Textron in a report on Tuesday, November 3rd.

Textron Price Performance

Shares of TXT opened at $85.93 on Monday. Textron has a 12-month low of $71.87 and a 12-month high of $101.57. The business has a 50-day simple moving average of $79.25 and a two-hundred day simple moving average of $88.00. The company has a quick ratio of 0.82, a current ratio of 1.80 and a debt-to-equity ratio of 0.42. The stock has a market cap of $14.56 billion, a PE ratio of 15.48, a PEG ratio of 1.16 and a beta of 0.88.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 29th. The aerospace company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.43 by $0.33. Textron had a return on equity of 14.34% and a net margin of 6.30%. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the company earned $1.55 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts anticipate that Textron will post 6.63 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, December 11th. Textron’s dividend payout ratio is presently 1.44%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Textron in the 2nd quarter valued at about $1,434,125,000. State Street Corp increased its stake in shares of Textron by 0.9% in the second quarter. State Street Corp now owns 9,830,439 shares of the aerospace company’s stock valued at $901,942,000 after buying an additional 86,141 shares during the period. Primecap Management Co. CA bought a new position in shares of Textron during the second quarter worth about $111,723,000. Bank of New York Mellon Corp bought a new position in shares of Textron during the second quarter worth about $105,946,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Textron by 31.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,138 shares of the aerospace company’s stock worth $87,523,000 after acquiring an additional 227,607 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

About Textron

Textron Inc. is a diversified industrial and aerospace company whose businesses design, manufacture and support products for commercial, government and consumer markets. Its operations include aviation, defense and industrial products, with customers in the United States and internationally. Through Textron Aviation, the company produces Cessna and Beechcraft aircraft, including business jets, turboprops and piston-engine aircraft, and provides related maintenance and support services. Its Bell business makes military and commercial helicopters and tiltrotor aircraft, while Textron Systems develops defense and aerospace products such as unmanned aircraft and other mission systems.