Textron Inc. (NYSE:TXT) Receives $93.45 Consensus Price Target from Brokerages

Shares of Textron Inc. (NYSE:TXT - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $93.45.

TXT has been the subject of several research reports. Robert W. Baird lowered their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a research report on Monday, January 6th. Susquehanna lowered their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th.

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company's stock.

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Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC grew its position in shares of Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company's stock worth $235,000 after buying an additional 125 shares during the last quarter. Pflug Koory LLC grew its position in shares of Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock worth $1,054,000 after buying an additional 125 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of Textron by 5.7% in the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after buying an additional 141 shares during the last quarter. Syon Capital LLC grew its position in shares of Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after buying an additional 153 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its position in shares of Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock worth $228,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Price Performance

Shares of TXT traded down $0.42 during mid-day trading on Wednesday, hitting $73.07. 3,154,087 shares of the stock were exchanged, compared to its average volume of 1,098,550. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The company has a market cap of $13.27 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron has a 52-week low of $70.14 and a 52-week high of $97.34. The firm has a 50-day moving average of $74.88 and a two-hundred day moving average of $80.71.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. Textron's revenue was down 7.2% on a year-over-year basis. On average, equities analysts predict that Textron will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

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