Textron (NYSE:TXT) Reaches New 12-Month High at $96.49

Textron Inc. (NYSE:TXT)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $96.49 and last traded at $96.40, with a volume of 115234 shares changing hands. The stock had previously closed at $95.72.

Wall Street Analysts Forecast Growth

TXT has been the subject of several recent research reports. The Goldman Sachs Group restated a “buy” rating and issued a $98.00 price target on shares of Textron in a report on Tuesday, January 2nd. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $105.00 in a report on Friday, March 8th. JPMorgan Chase & Co. boosted their price objective on shares of Textron from $84.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 20th. Finally, Citigroup boosted their price objective on shares of Textron from $102.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.00.

Textron Price Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 1.51 and a beta of 1.29. The stock’s 50 day simple moving average is $88.14 and its 200-day simple moving average is $81.35.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the business posted $1.07 EPS. Textron’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Textron’s payout ratio is 1.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Nomura Holdings Inc. acquired a new position in Textron during the 4th quarter valued at approximately $317,000. SageView Advisory Group LLC purchased a new stake in shares of Textron in the 4th quarter valued at $922,000. True Vision MN LLC purchased a new stake in shares of Textron in the 4th quarter valued at $420,000. Wellington Management Group LLP boosted its holdings in shares of Textron by 3.9% in the 4th quarter. Wellington Management Group LLP now owns 407,233 shares of the aerospace company’s stock valued at $32,750,000 after acquiring an additional 15,162 shares during the last quarter. Finally, Syon Capital LLC boosted its holdings in shares of Textron by 27.9% in the 4th quarter. Syon Capital LLC now owns 3,375 shares of the aerospace company’s stock valued at $271,000 after acquiring an additional 736 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.