Analysts Set Textron Inc. (NYSE:TXT) Price Target at $92.09

Textron Inc. (NYSE:TXT - Get Free Report) has been given a consensus rating of "Hold" by the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $92.09.

A number of brokerages recently commented on TXT. Robert W. Baird lowered their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. Barclays dropped their price objective on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Morgan Stanley reduced their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price target for the company in a report on Monday, January 6th. Finally, 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.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated 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 directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

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Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TXT. Balyasny Asset Management L.P. lifted its position in shares of Textron by 6,785.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock valued at $94,575,000 after acquiring an additional 1,218,485 shares during the last quarter. Invesco Ltd. lifted its position in Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after buying an additional 1,167,105 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Textron during the fourth quarter valued at $41,451,000. D. E. Shaw & Co. Inc. increased its holdings in Textron by 97.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock worth $78,872,000 after buying an additional 510,085 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after purchasing an additional 333,127 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

TXT stock traded up $0.29 on Friday, reaching $65.97. 1,343,268 shares of the company's stock were exchanged, compared to its average volume of 1,186,150. The stock has a fifty day moving average of $71.53 and a 200-day moving average of $78.26. The firm has a market cap of $11.98 billion, a PE ratio of 15.31, a P/E/G ratio of 1.18 and a beta of 1.06. 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 $95.86.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter last year, the business earned $1.60 earnings per share. The business's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, equities analysts predict that Textron will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Friday, March 14th. Textron's dividend payout ratio (DPR) is currently 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.