Textron (NYSE:TXT) Sets New 12-Month High at $97.00

Textron Inc. (NYSE:TXT - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $97.00 and last traded at $97.00, with a volume of 610 shares trading hands. The stock had previously closed at $96.65.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TXT. The Goldman Sachs Group restated a "buy" rating and issued a $98.00 price objective on shares of Textron in a research note on Tuesday, January 2nd. Bank of America upgraded Textron from a "neutral" rating to a "buy" rating and upped their target price for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. JPMorgan Chase & Co. raised their price objective on Textron from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, December 20th. UBS Group raised their price target on shares of Textron from $77.00 to $81.00 and gave the company a "sell" rating in a research note on Friday, January 26th. Finally, StockNews.com raised shares of Textron from a "buy" rating to a "strong-buy" rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $90.88.

Textron Stock Performance

The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The company's 50-day simple moving average is $90.05 and its 200-day simple moving average is $82.32. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.52 and a beta of 1.30.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.07. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. Textron's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 earnings per share. On average, analysts expect that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Textron's dividend payout ratio (DPR) is 1.75%.

Hedge Funds Weigh In On Textron

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CVA Family Office LLC acquired a new position in shares of Textron in the 4th quarter worth approximately $29,000. Money Concepts Capital Corp raised its stake in Textron by 109.0% during the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company's stock worth $31,000 after buying an additional 231 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Textron by 100.0% in the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company's stock valued at $35,000 after buying an additional 300 shares during the period. Global Retirement Partners LLC boosted its position in Textron by 393.9% during the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company's stock valued at $37,000 after acquiring an additional 390 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new stake in Textron during the 3rd quarter worth about $37,000. 86.03% of the stock is owned by institutional investors and hedge funds.

About Textron

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.