Textron Inc. (NYSE:TXT) has received an average recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $53.60.
A number of equities research analysts have commented on TXT shares. Credit Suisse Group reiterated a “buy” rating and set a $50.00 target price on shares of Textron in a report on Tuesday, April 11th. Stephens started coverage on Textron in a report on Thursday, April 13th. They set an “equal weight” rating and a $54.00 target price on the stock. Cowen and Company reiterated an “outperform” rating and set a $60.00 target price on shares of Textron in a report on Saturday, April 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $60.00 target price on shares of Textron in a report on Thursday, May 18th. Finally, Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th.
Shares of Textron (NYSE:TXT) traded down 0.29% during trading on Tuesday, reaching $48.49. The company had a trading volume of 2,538,195 shares. Textron has a 12 month low of $37.19 and a 12 month high of $50.93. The firm’s 50 day moving average price is $47.58 and its 200 day moving average price is $47.73. The firm has a market capitalization of $13.06 billion, a P/E ratio of 14.82 and a beta of 1.56.
Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. Equities analysts predict that Textron will post $2.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Friday, June 9th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Wednesday, June 7th. Textron’s dividend payout ratio is presently 2.45%.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Global X Management Co. LLC raised its position in shares of Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock worth $125,000 after buying an additional 607 shares in the last quarter. Financial Architects Inc acquired a new position in shares of Textron during the first quarter worth $126,000. Koch Industries Inc. acquired a new position in shares of Textron during the first quarter worth $203,000. Two Sigma Securities LLC acquired a new position in shares of Textron during the first quarter worth $210,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Textron during the first quarter worth $220,000. 82.68% of the stock is currently owned by institutional investors.
About Textron
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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