Analysts Set Textron Inc. (NYSE:TXT) PT at $88.36

Shares of Textron Inc. (NYSE:TXT - Get Free Report) have been given a consensus recommendation of "Hold" by the eleven ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $88.36.

TXT has been the subject of a number of research reports. Morgan Stanley decreased their price target on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Jefferies Financial Group reaffirmed a "buy" rating and set a $95.00 target price (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group upped their price target on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday, April 28th.

Textron Stock Up 0.0%

Shares of TXT traded up $0.02 during trading on Friday, reaching $80.36. The company's stock had a trading volume of 1,245,738 shares, compared to its average volume of 1,258,762. The company has a market cap of $14.51 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.31 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $74.37 and a two-hundred day moving average of $73.80. Textron has a twelve month low of $57.70 and a twelve month high of $94.57.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The firm had revenue of $3.31 billion for the quarter, compared to analysts' expectations of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. On average, sell-side analysts predict that Textron will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron's payout ratio is currently 1.81%.

Institutional Investors Weigh In On Textron

Large investors have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in shares of Textron in the 1st quarter worth about $89,403,000. Balyasny Asset Management L.P. grew its position in Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock worth $94,575,000 after purchasing an additional 1,218,485 shares during the last quarter. Invesco Ltd. increased its stake in shares of Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after purchasing an additional 1,167,105 shares during the period. Millennium Management LLC raised its holdings in shares of Textron by 128.7% during the first quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company's stock valued at $80,416,000 after buying an additional 626,346 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Textron during the fourth quarter valued at approximately $41,451,000. 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.