Textron Inc. (NYSE:TXT) Receives $59.50 Consensus Target Price from Analysts

Shares of Textron Inc. (NYSE:TXT) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $59.50.

Separately, ValuEngine cut Textron from a “hold” rating to a “sell” rating in a research report on Thursday.

Shares of TXT stock traded up $0.16 during mid-day trading on Thursday, reaching $43.34. The stock had a trading volume of 183,851 shares, compared to its average volume of 1,997,522. Textron has a 12-month low of $42.99 and a 12-month high of $72.87. The firm has a market capitalization of $9.92 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.22 and a beta of 1.74. The firm’s 50-day moving average is $50.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 2.17.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. Textron had a return on equity of 15.55% and a net margin of 9.07%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter last year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, equities analysts forecast that Textron will post 3.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Thursday, September 12th. Textron’s dividend payout ratio is presently 2.40%.

A number of large investors have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan acquired a new position in shares of Textron in the 4th quarter valued at about $315,000. Oakbrook Investments LLC acquired a new position in shares of Textron in the 2nd quarter valued at about $615,000. Carroll Financial Associates Inc. acquired a new position in shares of Textron in the 2nd quarter valued at about $196,000. PNC Financial Services Group Inc. lifted its stake in shares of Textron by 19.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 78,867 shares of the aerospace company’s stock valued at $3,995,000 after purchasing an additional 12,571 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Textron by 166.8% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 166,941 shares of the aerospace company’s stock valued at $8,457,000 after purchasing an additional 104,373 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

Textron Company Profile

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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Analyst Recommendations for Textron (NYSE:TXT)

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