Textron (NYSE:TXT - Free Report) had its target price cut by Morgan Stanley from $82.00 to $71.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the aerospace company's stock.
TXT has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Barclays cut their target price on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. Finally, 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 report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Textron has an average rating of "Moderate Buy" and an average price target of $92.09.
View Our Latest Analysis on TXT
Textron Trading Up 0.4 %
Shares of NYSE TXT traded up $0.29 during midday trading on Friday, hitting $65.97. The stock had a trading volume of 1,343,268 shares, compared to its average volume of 1,186,150. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron has a fifty-two week low of $57.70 and a fifty-two week high of $95.86. The firm has a market cap of $11.98 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The company's 50-day simple moving average is $71.53 and its 200 day simple moving average is $78.26.
Textron (NYSE:TXT - Get Free Report) last released its 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 period in the prior year, the company posted $1.60 EPS. The company's revenue was down 7.2% compared to the same quarter last year. Research analysts anticipate that Textron will post 6.12 EPS for the current year.
Textron Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron's dividend payout ratio is currently 1.86%.
Insiders Place Their Bets
In other news, VP Mark S. Bamford sold 5,451 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.70% of the company's stock.
Institutional Investors Weigh In On Textron
Institutional investors have recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after purchasing an additional 1,167,105 shares in the last quarter. Boston Partners increased its position in shares of Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after acquiring an additional 333,127 shares during the last quarter. Geode Capital Management LLC raised its holdings in Textron by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after acquiring an additional 164,964 shares in the last quarter. Brandes Investment Partners LP boosted its position in Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after purchasing an additional 302,712 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Textron by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock valued at $137,971,000 after purchasing an additional 155,384 shares in the last quarter. Institutional investors own 86.03% of the company's stock.
About Textron
(
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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.
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