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

Textron Inc. (NYSE:TXT - Get Free Report) has received an average rating of "Hold" from the eleven brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $93.45.

Several research analysts have recently commented on TXT shares. Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. JPMorgan Chase & Co. dropped their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Morgan Stanley lowered their target price on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Finally, Citigroup cut their price target on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction that occurred 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 sale, the vice president now directly owns 18,223 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by company insiders.

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Institutional Trading of Textron

A number of institutional investors have recently bought and sold shares of TXT. True Wealth Design LLC bought a new stake in shares of Textron in the 3rd quarter worth about $26,000. SBI Securities Co. Ltd. bought a new stake in Textron in the fourth quarter worth about $31,000. Eastern Bank purchased a new position in shares of Textron during the fourth quarter valued at approximately $42,000. Truvestments Capital LLC bought a new position in shares of Textron during the third quarter valued at approximately $43,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Textron in the fourth quarter worth approximately $56,000. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

Shares of Textron stock traded up $0.22 during trading hours on Wednesday, reaching $74.50. 2,109,509 shares of the stock traded hands, compared to its average volume of 1,102,621. Textron has a one year low of $70.14 and a one year high of $97.34. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $74.83 and a 200 day moving average price of $80.51.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping 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 business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm earned $1.60 earnings per share. The company's quarterly revenue was down 7.2% on a year-over-year basis. On average, equities research analysts expect that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

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.