Shares of Textron Inc. (NYSE:TXT) have been assigned an average rating of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $71.90.

TXT has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Textron from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Jefferies Financial Group increased their price objective on shares of Textron to $82.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Morgan Stanley set a $71.00 price objective on shares of Textron and gave the company a “hold” rating in a research report on Thursday, October 11th. ValuEngine downgraded shares of Textron from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Wells Fargo & Co dropped their price objective on shares of Textron from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th.

Shares of NYSE:TXT traded down $1.79 during trading hours on Friday, reaching $51.22. The stock had a trading volume of 2,212,840 shares, compared to its average volume of 1,749,129. Textron has a 1 year low of $50.62 and a 1 year high of $72.87. The company has a current ratio of 2.29, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70. The company has a market cap of $13.23 billion, a PE ratio of 20.91, a P/E/G ratio of 1.05 and a beta of 1.62.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 18th. The aerospace company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the prior year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, equities research analysts expect that Textron will post 3.21 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, December 13th. Textron’s dividend payout ratio (DPR) is 3.27%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Centaurus Financial Inc. purchased a new position in shares of Textron in the 2nd quarter valued at $105,000. BlueMountain Capital Management LLC purchased a new position in shares of Textron in the 2nd quarter valued at $139,000. First Hawaiian Bank purchased a new position in shares of Textron in the 3rd quarter valued at $140,000. Belpointe Asset Management LLC purchased a new position in shares of Textron in the 3rd quarter valued at $143,000. Finally, Willingdon Wealth Management purchased a new position in shares of Textron in the 3rd quarter valued at $157,000. 83.80% 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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