Textron (NYSE:TXT) Reaches New 12-Month High at $96.49

Textron Inc. (NYSE:TXT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $96.49 and last traded at $96.40, with a volume of 115234 shares trading hands. The stock had previously closed at $95.72.

Wall Street Analyst Weigh In

Several analysts have issued reports on TXT shares. The Goldman Sachs Group restated a “buy” rating and set a $98.00 price target on shares of Textron in a research report on Tuesday, January 2nd. UBS Group upped their price target on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. JPMorgan Chase & Co. upped their price objective on shares of Textron from $84.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Finally, StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

Textron Trading Up 0.3 %

The company has a market capitalization of $18.52 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.51 and a beta of 1.29. The stock’s 50 day moving average is $88.14 and its 200-day moving average is $81.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the firm earned $1.07 earnings per share. Textron’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, March 14th. Textron’s payout ratio is currently 1.75%.

Hedge Funds Weigh In On Textron

Institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC bought a new position in Textron in the fourth quarter worth about $29,000. Money Concepts Capital Corp increased its stake in shares of Textron by 109.0% during 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 in the last quarter. CENTRAL TRUST Co increased its stake in shares of Textron by 100.0% during the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Textron by 393.9% during the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 390 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of Textron during the third quarter valued at approximately $37,000. 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.