Textron (NYSE:TXT) Price Target Raised to $95.00

Textron (NYSE:TXT) had its target price hoisted by Morgan Stanley from $86.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the aerospace company’s stock.

A number of other analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Textron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 27th. TD Cowen cut their price objective on shares of Textron from $105.00 to $100.00 and set a “buy” rating for the company in a report on Friday, October 9th. UBS Group upped their price objective on shares of Textron from $86.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Citigroup decreased their price objective on shares of Textron from $99.00 to $86.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Finally, Wall Street Zen lowered shares of Textron from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $101.09.

Textron Trading Down 1.2%

Shares of NYSE:TXT opened at $86.66 on Monday. Textron has a 12-month low of $71.87 and a 12-month high of $101.57. The company has a market capitalization of $14.68 billion, a PE ratio of 15.61, a PEG ratio of 1.25 and a beta of 0.88. The business has a 50 day moving average of $78.89 and a two-hundred day moving average of $88.23. The company has a current ratio of 1.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 29th. The aerospace company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.33. The business had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Textron had a net margin of 6.30% and a return on equity of 14.34%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $1.55 EPS. As a group, analysts forecast that Textron will post 6.63 EPS for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 11th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, December 11th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron’s dividend payout ratio (DPR) is 1.44%.

Institutional Investors Weigh In On Textron

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Textron during the second quarter worth about $1,434,125,000. Primecap Management Co. CA acquired a new stake in Textron in the 2nd quarter valued at about $111,723,000. Bank of New York Mellon Corp acquired a new stake in Textron in the 2nd quarter valued at about $105,946,000. Great Lakes Advisors LLC purchased a new position in Textron in the 2nd quarter worth approximately $81,224,000. Finally, Legal & General Group Plc purchased a new position in Textron in the 2nd quarter worth approximately $78,431,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc (NYSE:TXT) is a diversified industrial company that develops and manufactures aircraft, helicopters, specialized vehicles, defense systems and other industrial products. Founded in 1923 by Royal Little, the company has grown through the development and acquisition of businesses serving commercial, government and consumer markets.

Textron Aviation produces business jets, turboprop aircraft and general aviation aircraft under the Cessna and Beechcraft brands. Bell designs and manufactures military and commercial helicopters, tiltrotor aircraft and related support services.