Textron (NYSE:TXT) Reaches New 1-Year High – Time to Buy?

Textron Inc. (NYSE:TXT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $94.58 and last traded at $93.84, with a volume of 158149 shares. The stock had previously closed at $93.28.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Textron from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. UBS Group reduced their price target on Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. TD Cowen decreased their price target on Textron from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, October 24th. JPMorgan Chase & Co. cut their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Citigroup reiterated a “neutral” rating on shares of Textron in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Textron has an average rating of “Hold” and an average target price of $91.25.

Textron Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86. The firm has a fifty day moving average of $85.33 and a two-hundred day moving average of $82.99. The stock has a market capitalization of $16.49 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.40 and a beta of 1.00.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.08. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Textron had a net margin of 5.81% and a return on equity of 14.16%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Friday, December 12th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, December 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron’s dividend payout ratio (DPR) is currently 1.76%.

Institutional Trading of Textron

A number of hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC increased its holdings in shares of Textron by 388.5% in the 3rd quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 237 shares during the period. Assetmark Inc. boosted its position in Textron by 191.9% during the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 213 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in Textron in the second quarter valued at about $27,000. Quent Capital LLC bought a new position in Textron in the third quarter worth about $33,000. Finally, Accredited Wealth Management LLC lifted its position in shares of Textron by 804.0% during the third quarter. Accredited Wealth Management LLC now owns 452 shares of the aerospace company’s stock valued at $38,000 after buying an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

About Textron

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.