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

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

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

Textron Stock Up 0.4 %

Shares of NYSE:TXT opened at $92.58 on Tuesday. The company has a market cap of $17.81 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.47 and a beta of 1.30. The firm’s 50-day simple moving average is $91.53 and its 200-day simple moving average is $83.27. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. Textron has a fifty-two week low of $61.27 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last released 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 firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The firm’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. As a group, equities research analysts predict that Textron will post 6.27 earnings per share for the current year.

Textron Announces Dividend

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

Institutional Investors Weigh In On Textron

Several institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC raised its holdings in Textron by 18.6% in the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 122 shares in the last quarter. Allworth Financial LP raised its holdings in Textron by 12.0% in the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 137 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in Textron by 2.9% in the second quarter. Kestra Advisory Services LLC now owns 4,930 shares of the aerospace company’s stock valued at $333,000 after acquiring an additional 139 shares in the last quarter. Quent Capital LLC raised its holdings in Textron by 29.2% in the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after acquiring an additional 143 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of Textron by 0.5% during the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after purchasing an additional 157 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

About Textron

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.