Textron Inc. (NYSE:TXT) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts rate Textron “Hold” overall: Of 13 covering analysts, eight recommend hold, four buy, and one strong buy; the average one-year price target is $101.09.
• Quarterly earnings beat expectations: Textron reported EPS of $1.76 versus the $1.43 consensus, while revenue of $3.75 billion came in slightly below estimates but rose 4.1% year over year.
• The company declared a quarterly dividend of $0.02 per share, equivalent to an annualized yield of about 0.1%.

Shares of Textron Inc. (NYSE:TXT - Get Free Report) have been given a consensus rating of "Hold" by the thirteen analysts that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $101.09.

A number of equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Textron from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Bank of America reissued a "neutral" rating and issued a $100.00 price objective on shares of Textron in a research note on Tuesday, November 3rd. TD Cowen lowered their target price on shares of Textron from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, October 9th. Morgan Stanley boosted their price target on shares of Textron from $86.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Monday, November 2nd. Finally, Weiss Ratings downgraded Textron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, October 27th.

Textron Stock Up 0.1%

Shares of TXT opened at $83.66 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.82 and a current ratio of 1.80. The stock has a market capitalization of $14.17 billion, a PE ratio of 15.07, a P/E/G ratio of 1.12 and a beta of 0.88. The company's 50-day simple moving average is $78.96 and its 200-day simple moving average is $88.14. Textron has a 1 year low of $71.87 and a 1 year high of $101.57.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, October 29th. The aerospace company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.33. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.77 billion. Textron had a net margin of 6.30% and a return on equity of 14.34%. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.55 EPS. Analysts forecast that Textron will post 6.63 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 11th will be given a $0.02 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron's dividend payout ratio is presently 1.44%.

Institutional Investors Weigh In On Textron

Several institutional investors have recently made changes to their positions in TXT. BlackRock Inc. acquired a new stake in Textron during the second quarter worth approximately $1,434,125,000. State Street Corp grew its stake in shares of Textron by 0.9% during the 2nd quarter. State Street Corp now owns 9,830,439 shares of the aerospace company's stock valued at $901,942,000 after buying an additional 86,141 shares during the period. Primecap Management Co. CA acquired a new stake in shares of Textron during the 2nd quarter worth $111,723,000. Bank of New York Mellon Corp acquired a new stake in Textron during the second quarter worth about $105,946,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Textron by 31.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,138 shares of the aerospace company's stock worth $87,523,000 after purchasing an additional 227,607 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

About Textron

Textron Inc is a diversified industrial and aerospace company whose businesses design, manufacture and support products for commercial, government and consumer markets. Its operations include aviation, defense and industrial products, with customers in the United States and internationally.

Through Textron Aviation, the company produces Cessna and Beechcraft aircraft, including business jets, turboprops and piston-engine aircraft, and provides related maintenance and support services. Its Bell business makes military and commercial helicopters and tiltrotor aircraft, while Textron Systems develops defense and aerospace products such as unmanned aircraft and other mission systems.

Textron's industrial businesses make products that include specialty vehicles, golf cars, outdoor power equipment and components.

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