The Goldman Sachs Group Increases Textron (NYSE:TXT) Price Target to $120.00

Textron (NYSE:TXT) had its target price increased by The Goldman Sachs Group from $103.00 to $120.00 in a report issued on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the aerospace company’s stock.

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

Textron Stock Up 0.8 %

Shares of TXT stock opened at $93.30 on Tuesday. Textron has a 52-week low of $61.27 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.45 and a beta of 1.30. The firm’s 50-day moving average is $91.65 and its 200-day moving average is $83.38.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Textron will post 6.27 EPS for the current year.

Textron Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TXT. JPMorgan Chase & Co. increased its stake in shares of Textron by 27.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,596,887 shares of the aerospace company’s stock valued at $324,678,000 after purchasing an additional 997,119 shares during the last quarter. Man Group plc acquired a new position in Textron during the fourth quarter worth about $64,467,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Textron by 93.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after acquiring an additional 713,169 shares during the last quarter. Swiss National Bank acquired a new stake in shares of Textron in the 3rd quarter valued at approximately $50,696,000. Finally, LSV Asset Management grew its holdings in shares of Textron by 15.9% during the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after purchasing an additional 521,276 shares during the last quarter. 86.03% of the stock is owned by 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.