Credit Suisse Group reissued their outperform rating on shares of Textron Inc. (NYSE:TXT) in a report issued on Thursday, July 20th, The Fly reports. They currently have a $55.00 price objective on the aerospace company’s stock, up from their prior price objective of $50.00.
TXT has been the subject of several other research reports. Jefferies Group LLC reissued a buy rating and issued a $60.00 price target on shares of Textron in a research note on Thursday, May 18th. Stephens started coverage on Textron in a research note on Thursday, April 13th. They issued an equal weight rating and a $54.00 price target for the company. Zacks Investment Research raised Textron from a hold rating to a buy rating and set a $55.00 price target for the company in a research note on Tuesday, July 18th. Cowen and Company reissued an outperform rating and issued a $60.00 price target on shares of Textron in a research note on Saturday, April 22nd. Finally, BidaskClub raised Textron from a sell rating to a hold rating in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $53.60.
Shares of Textron (TXT) opened at 49.06 on Thursday. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 15.00 and a beta of 1.56. The company has a 50-day moving average price of $48.13 and a 200-day moving average price of $47.70. Textron has a 12 month low of $37.19 and a 12 month high of $50.93.
Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. Textron’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. Equities analysts forecast that Textron will post $2.52 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.16%. Textron’s dividend payout ratio is currently 2.45%.
Large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Textron during the fourth quarter valued at approximately $271,000. Kentucky Retirement Systems purchased a new stake in shares of Textron during the fourth quarter worth approximately $952,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Textron during the fourth quarter worth approximately $425,000. Searle & CO. purchased a new stake in shares of Textron during the fourth quarter worth approximately $277,000. Finally, Macquarie Group Ltd. boosted its stake in shares of Textron by 5.2% in the fourth quarter. Macquarie Group Ltd. now owns 10,200 shares of the aerospace company’s stock worth $496,000 after buying an additional 500 shares during the period. 83.55% of the stock is owned by institutional investors and hedge funds.
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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