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

Textron (NYSE:TXT) had its price target upped by The Goldman Sachs Group from $103.00 to $120.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

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

Textron Price Performance

Textron stock opened at $92.58 on Tuesday. 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 firm has a market cap of $17.81 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.47 and a beta of 1.30. The business’s fifty day moving average is $91.53 and its two-hundred day moving average is $83.27. Textron has a 52 week low of $61.27 and a 52 week high of $97.33.

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

Textron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Thursday, March 14th. Textron’s payout ratio is 1.75%.

Hedge Funds Weigh In On Textron

Several hedge funds have recently added to or reduced their stakes in TXT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Textron by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,493 shares of the aerospace company’s stock worth $2,194,000 after acquiring an additional 1,826 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Textron by 0.9% in the first quarter. Great West Life Assurance Co. Can now owns 55,591 shares of the aerospace company’s stock worth $4,331,000 after acquiring an additional 500 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of Textron by 0.7% in the first quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company’s stock worth $1,985,000 after acquiring an additional 175 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Textron by 0.8% in the first quarter. Vanguard Group Inc. now owns 23,503,096 shares of the aerospace company’s stock worth $1,748,161,000 after acquiring an additional 177,502 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Textron by 52.6% in the first quarter. Covestor Ltd now owns 1,506 shares of the aerospace company’s stock worth $112,000 after acquiring an additional 519 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.