Textron (TXT) PT Set at $59.00 by Jefferies Financial Group

Jefferies Financial Group set a $59.00 target price on Textron (NYSE:TXT) in a report issued on Tuesday. The brokerage currently has a buy rating on the aerospace company’s stock. Jefferies Financial Group also issued estimates for Textron’s FY2021 earnings at $3.95 EPS.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley set a $71.00 price target on shares of Textron and gave the company a hold rating in a research note on Thursday, October 11th. TheStreet cut shares of Textron from a b rating to a c+ rating in a research note on Friday, January 4th. ValuEngine cut shares of Textron from a hold rating to a sell rating in a research note on Friday, January 4th. Zacks Investment Research raised shares of Textron from a hold rating to a strong-buy rating and set a $81.00 price target on the stock in a research note on Friday, October 12th. Finally, Wells Fargo & Co dropped their price target on shares of Textron from $72.00 to $70.00 and set an outperform rating on the stock in a research note on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $70.00.

Textron stock opened at $48.01 on Tuesday. Textron has a 1 year low of $43.27 and a 1 year high of $72.87. The firm has a market capitalization of $11.49 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.09 and a beta of 1.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.11 and a current ratio of 2.29.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period in the prior year, the business posted $0.65 EPS. Textron’s revenue was down 8.2% compared to the same quarter last year. As a group, analysts forecast that Textron will post 3.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.17%. Textron’s dividend payout ratio (DPR) is presently 3.27%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. YHB Investment Advisors Inc. boosted its stake in Textron by 7.0% during the 4th quarter. YHB Investment Advisors Inc. now owns 7,623 shares of the aerospace company’s stock worth $351,000 after purchasing an additional 500 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its stake in Textron by 0.3% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 283,940 shares of the aerospace company’s stock worth $20,293,000 after purchasing an additional 770 shares during the last quarter. Blue Fin Capital Inc. boosted its stake in Textron by 12.3% during the 3rd quarter. Blue Fin Capital Inc. now owns 8,685 shares of the aerospace company’s stock worth $621,000 after purchasing an additional 949 shares during the last quarter. Aperio Group LLC boosted its stake in Textron by 0.8% during the 3rd quarter. Aperio Group LLC now owns 121,855 shares of the aerospace company’s stock worth $8,709,000 after purchasing an additional 986 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Textron by 3.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 30,947 shares of the aerospace company’s stock worth $2,211,000 after acquiring an additional 1,036 shares during the period. 83.69% of the stock is currently owned by institutional investors.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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