Textron (NYSE:TXT) PT Raised to $120.00 at The Goldman Sachs Group

Textron (NYSE:TXT - Free Report) had its target price lifted by The Goldman Sachs Group from $103.00 to $120.00 in a report released on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the aerospace company's stock.

TXT has been the topic of a number of other reports. Citigroup boosted their price target on shares of Textron from $104.00 to $111.00 and gave the stock a buy rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Textron from a buy rating to a strong-buy rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. boosted their target price on shares of Textron from $84.00 to $85.00 and gave the stock a neutral rating in a report on Wednesday, December 20th. UBS Group boosted their target price on shares of Textron from $77.00 to $81.00 and gave the stock a sell rating in a report on Friday, January 26th. Finally, Bank of America upgraded shares of Textron from a neutral rating to a buy rating and boosted their target price for the stock from $85.00 to $105.00 in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $93.63.

Textron Stock Performance

NYSE:TXT traded up $0.17 during mid-day trading on Tuesday, hitting $93.23. The stock had a trading volume of 1,018,812 shares, compared to its average volume of 1,157,227. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.48 and a beta of 1.30. The company has a 50 day simple moving average of $91.34 and a 200-day simple moving average of $83.14. Textron has a 52 week low of $61.27 and a 52 week high of $97.33. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

Textron (NYSE:TXT - Get Free Report) last released 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. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the firm earned $1.07 EPS. Textron's revenue was up 7.0% on a year-over-year basis. On average, research analysts expect that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Thursday, March 14th. Textron's dividend payout ratio (DPR) is currently 1.75%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. CVA Family Office LLC purchased a new position in shares of Textron in the fourth quarter worth approximately $29,000. Money Concepts Capital Corp increased its position in shares of Textron by 109.0% in the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company's stock worth $31,000 after acquiring an additional 231 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of Textron in the third quarter worth approximately $37,000. Global Retirement Partners LLC grew 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 purchasing an additional 390 shares in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in Textron during the fourth quarter valued at approximately $40,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

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.