Textron (NYSE:TXT) Price Target Raised to $86.00

Textron (NYSE:TXT - Free Report) had its price objective boosted by Morgan Stanley from $71.00 to $86.00 in a research report report published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the aerospace company's stock.

Several other research analysts also recently commented on TXT. UBS Group boosted their target price on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. Wall Street Zen upgraded shares of Textron from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 13th. Jefferies Financial Group restated a "buy" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. The Goldman Sachs Group restated a "neutral" rating and issued a $85.00 price objective (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Finally, Citigroup dropped their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.33.

Textron Price Performance

NYSE TXT traded down $0.41 during trading on Thursday, reaching $84.95. 1,458,898 shares of the company traded hands, compared to its average volume of 1,279,819. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80. The stock's 50 day moving average price is $77.99 and its two-hundred day moving average price is $74.38. The company has a market cap of $15.34 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 1.37 and a beta of 1.17. Textron has a 1-year low of $57.70 and a 1-year high of $94.57.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.77% and a net margin of 5.98%. Textron's revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. As a group, analysts anticipate that Textron will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Friday, June 13th. Textron's payout ratio is 1.81%.

Institutional Trading of Textron

Several institutional investors and hedge funds have recently made changes to their positions in the business. Moody National Bank Trust Division raised its position in shares of Textron by 1.2% during the 2nd quarter. Moody National Bank Trust Division now owns 12,139 shares of the aerospace company's stock valued at $975,000 after acquiring an additional 141 shares during the last quarter. Syon Capital LLC increased its position in shares of Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock valued at $271,000 after buying an additional 153 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Textron by 10.3% in the 1st quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company's stock valued at $120,000 after buying an additional 156 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Textron by 2.3% in the 2nd quarter. Fifth Third Bancorp now owns 7,063 shares of the aerospace company's stock valued at $567,000 after buying an additional 159 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its position in shares of Textron by 6.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after buying an additional 163 shares in the last quarter. Institutional investors 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.