UBS Group Forecasts Strong Price Appreciation for Textron (NYSE:TXT) Stock

Textron (NYSE:TXT - Free Report) had its target price hoisted by UBS Group from $62.00 to $63.00 in a report published on Monday,Benzinga reports. The brokerage currently has a sell rating on the aerospace company's stock.

A number of other analysts have also recently weighed in on TXT. Morgan Stanley dropped their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and cut their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. TD Cowen raised Textron to a "hold" rating in a report on Monday, February 24th. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Finally, Robert W. Baird lowered their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $87.70.

Textron Stock Up 1.2 %

Shares of TXT traded up $0.81 during midday trading on Monday, hitting $71.08. The company had a trading volume of 2,105,614 shares, compared to its average volume of 1,185,570. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron has a 52 week low of $57.70 and a 52 week high of $94.57. The company's 50 day moving average price is $69.98 and its 200 day moving average price is $76.44. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the business posted $1.20 EPS. Textron's quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Textron will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio (DPR) is 1.81%.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wealthfront Advisers LLC lifted its position in Textron by 2.8% in the first quarter. Wealthfront Advisers LLC now owns 36,861 shares of the aerospace company's stock worth $2,663,000 after purchasing an additional 988 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Textron by 34.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 120,672 shares of the aerospace company's stock valued at $8,719,000 after buying an additional 30,892 shares during the period. Dakota Wealth Management bought a new position in Textron during the first quarter valued at about $256,000. Apollon Wealth Management LLC grew its holdings in Textron by 6.4% during the first quarter. Apollon Wealth Management LLC now owns 3,599 shares of the aerospace company's stock worth $260,000 after acquiring an additional 215 shares during the period. Finally, Signaturefd LLC raised its position in Textron by 30.9% in the first quarter. Signaturefd LLC now owns 3,871 shares of the aerospace company's stock worth $280,000 after acquiring an additional 914 shares in 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.