Textron (NYSE:TXT) – Investment analysts at Jefferies Group dropped their Q3 2018 earnings per share estimates for shares of Textron in a research note issued to investors on Wednesday, April 18th. Jefferies Group analyst S. Kahyaoglu now forecasts that the aerospace company will post earnings of $0.76 per share for the quarter, down from their previous forecast of $0.78. Jefferies Group currently has a “Buy” rating and a $74.00 target price on the stock. Jefferies Group also issued estimates for Textron’s Q4 2018 earnings at $0.91 EPS.
Textron (NYSE:TXT) last released its earnings results on Wednesday, April 18th. The aerospace company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.26. The company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Textron had a return on equity of 12.65% and a net margin of 2.74%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS.
Several other research firms have also issued reports on TXT. Stephens set a $65.00 price target on Textron and gave the company a “hold” rating in a research report on Thursday, January 11th. Cowen reissued a “buy” rating and set a $70.00 price target on shares of Textron in a research report on Thursday, February 1st. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised Textron from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, Morgan Stanley raised Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 price target on the stock in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $67.17.
Textron stock opened at $65.59 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.04 and a quick ratio of 1.06. The company has a market cap of $17,169.63, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. Textron has a 52 week low of $45.00 and a 52 week high of $65.99.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. increased its position in Textron by 33.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 18,479 shares of the aerospace company’s stock worth $1,046,000 after buying an additional 4,596 shares during the period. Envestnet Asset Management Inc. increased its position in Textron by 38.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 8,438 shares of the aerospace company’s stock worth $477,000 after buying an additional 2,356 shares during the period. MetLife Investment Advisors LLC acquired a new stake in Textron in the fourth quarter worth $4,612,000. BB&T Securities LLC increased its position in Textron by 45.4% in the fourth quarter. BB&T Securities LLC now owns 5,480 shares of the aerospace company’s stock worth $310,000 after buying an additional 1,712 shares during the period. Finally, Glenmede Trust Co. NA increased its position in Textron by 25.5% in the fourth quarter. Glenmede Trust Co. NA now owns 7,377 shares of the aerospace company’s stock worth $417,000 after buying an additional 1,500 shares during the period. 83.26% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Friday, March 9th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Thursday, March 8th. Textron’s dividend payout ratio is presently 3.27%.
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Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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