Textron Inc. (NYSE:TXT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Posted by Defense World Staff on Jun 8th, 2023

Textron Inc. (NYSE:TXT – Get Rating) has earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $80.00.

A number of equities research analysts recently commented on TXT shares. StockNews.com started coverage on shares of Textron in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Wolfe Research started coverage on Textron in a research report on Thursday, April 6th. They set a “peer perform” rating for the company. Finally, Vertical Research downgraded Textron from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a research report on Wednesday, May 24th.

Institutional Investors Weigh In On Textron

A number of institutional investors have recently bought and sold shares of TXT. Capital Analysts LLC acquired a new stake in Textron during the 1st quarter worth approximately $29,000. James Investment Research Inc. purchased a new stake in Textron during the 4th quarter worth $30,000. SOA Wealth Advisors LLC. increased its holdings in Textron by 129.8% in the 1st quarter. SOA Wealth Advisors LLC. now owns 439 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 248 shares in the last quarter. Money Concepts Capital Corp raised its position in Textron by 109.0% in the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 231 shares during the period. Finally, Thompson Investment Management Inc. acquired a new position in shares of Textron during the first quarter worth about $35,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Textron Trading Up 3.3 %

Shares of TXT opened at $65.72 on Thursday. Textron has a twelve month low of $57.11 and a twelve month high of $76.11. The company has a current ratio of 1.90, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $13.25 billion, a P/E ratio of 16.23, a PEG ratio of 1.11 and a beta of 1.48. The firm’s 50-day moving average is $66.08 and its two-hundred day moving average is $69.43.

Textron (NYSE:TXT – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The aerospace company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Textron had a return on equity of 12.82% and a net margin of 6.66%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, research analysts predict that Textron will post 5.09 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, June 8th. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. Textron’s payout ratio is currently 1.98%.

Textron Company Profile

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Textron, Inc is a multi-industry company, which leverages a global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Textron eAviation.