Textron Inc. (NYSE:TXT) Given Average Recommendation of "Hold" by Analysts

Shares of Textron Inc. (NYSE:TXT - Get Free Report) have been assigned a consensus rating of "Hold" from the nine brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $101.56.

Several equities research analysts have issued reports on TXT shares. Citigroup lifted their price target on Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their price target on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. UBS Group lowered their price objective on shares of Textron from $87.00 to $79.00 and set a "sell" rating for the company in a report on Friday, October 25th. Robert W. Baird cut their price objective on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Finally, TD Cowen cut shares of Textron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th.

Textron Price Performance

Shares of Textron stock traded down $1.47 during trading on Thursday, hitting $86.10. The stock had a trading volume of 1,264,774 shares, compared to its average volume of 1,085,296. The firm has a market cap of $15.97 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.57 and a beta of 1.24. Textron has a 12 month low of $74.13 and a 12 month high of $97.33. The business's 50-day moving average is $86.41 and its 200 day moving average is $87.30. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 EPS. As a group, sell-side analysts anticipate that Textron will post 5.52 earnings per share for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron's dividend payout ratio is currently 1.76%.

Hedge Funds Weigh In On Textron

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC purchased a new position in shares of Textron in the 1st quarter worth about $916,000. Oppenheimer & Co. Inc. grew its holdings in shares of Textron by 11.6% during the first quarter. Oppenheimer & Co. Inc. now owns 4,215 shares of the aerospace company's stock valued at $404,000 after buying an additional 439 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Textron during the first quarter valued at approximately $338,000. US Bancorp DE raised its holdings in Textron by 11.8% in the 1st quarter. US Bancorp DE now owns 26,416 shares of the aerospace company's stock worth $2,534,000 after acquiring an additional 2,785 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in Textron by 3.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 272,893 shares of the aerospace company's stock valued at $26,179,000 after acquiring an additional 8,919 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

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.