Textron Inc. (NYSE:TXT) Receives $92.67 Average Target Price from Analysts

Key Points

• Textron Inc. has received a consensus recommendation of "Moderate Buy" from twelve analysts, with an average 12-month price target of $92.67.
• Recent insider trading saw EVP Julie G. Duffy sell 28,543 shares at an average price of $79.37, significantly reducing her ownership by 43.14%.
• The company reported earnings of $1.55 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.02, representing a yield of 0.1%.

Shares of Textron Inc. (NYSE:TXT - Get Free Report) have been given an average rating of "Moderate Buy" by the twelve research firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $92.6667.

TXT has been the subject of a number of analyst reports. Susquehanna lifted their target price on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Jefferies Financial Group reissued a "buy" rating and set a $95.00 target price (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $73.00 to $88.00 in a research note on Monday, July 28th. The Goldman Sachs Group reissued a "neutral" rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Finally, Barclays lifted their target price on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th.

Textron Trading Up 0.4%

Shares of TXT stock traded up $0.33 during trading hours on Friday, hitting $79.22. 1,571,003 shares of the company's stock traded hands, compared to its average volume of 1,537,120. The stock's 50 day simple moving average is $80.18 and its 200 day simple moving average is $74.72. The stock has a market cap of $14.12 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. Textron has a 12 month low of $57.70 and a 12 month high of $91.48. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the firm earned $1.54 earnings per share. Textron's quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Textron will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron's payout ratio is 1.81%.

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction on Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the sale, the executive vice president directly owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Textron

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. raised its holdings in shares of Textron by 2.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 4,963 shares of the aerospace company's stock worth $398,000 after acquiring an additional 140 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of Textron by 1.2% in the 2nd quarter. Moody National Bank Trust Division now owns 12,139 shares of the aerospace company's stock worth $975,000 after acquiring an additional 141 shares during the last quarter. Syon Capital LLC raised its holdings 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 worth $271,000 after acquiring an additional 153 shares during the last quarter. Brooklyn Investment Group increased its stake in 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 during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Textron by 18.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 998 shares of the aerospace company's stock valued at $80,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds 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.