Textron Inc. (NYSE:TXT) - Analysts at Jefferies Group dropped their FY2020 EPS estimates for shares of Textron in a research report issued on Wednesday. Jefferies Group analyst S. Kahyaoglu now forecasts that the aerospace company will earn $3.45 per share for the year, down from their prior estimate of $3.55. Jefferies Group has a “Buy” rating and a $60.00 price target on the stock.
Other analysts have also recently issued research reports about the company. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $54.00 price target (up previously from $52.00) on shares of Textron in a research report on Saturday. Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Textron in a research report on Saturday, April 22nd. Finally, Stephens assumed coverage on Textron in a research report on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $53.60.
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Textron (NYSE:TXT) traded down 0.37% during midday trading on Monday, hitting $49.11. The stock had a trading volume of 1,125,218 shares. The company’s 50-day moving average price is $47.63 and its 200 day moving average price is $47.69. The stock has a market cap of $13.23 billion, a P/E ratio of 15.01 and a beta of 1.56. Textron has a 12-month low of $37.19 and a 12-month high of $50.93.
Textron (NYSE:TXT) last posted its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of TXT. Global X Management Co. LLC raised its position in 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 during the last quarter. Financial Architects Inc acquired a new position in Textron during the first quarter worth approximately $126,000. Koch Industries Inc. acquired a new position in Textron during the first quarter worth approximately $203,000. Two Sigma Securities LLC acquired a new position in Textron during the first quarter worth approximately $210,000. Finally, State of Alaska Department of Revenue acquired a new position in Textron during the first quarter worth approximately $220,000. Institutional investors and hedge funds own 82.66% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. Textron’s payout ratio is presently 2.45%.
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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