Textron Inc. (NYSE:TXT) has received a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $74.00.
Several equities analysts have issued reports on the company. Jefferies Financial Group lifted their target price on Textron to $82.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Zacks Investment Research lowered Textron from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Bank of America set a $78.00 price target on Textron and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Cowen restated a “$66.44” rating and set a $73.00 price target on shares of Textron in a research note on Wednesday, July 18th. Finally, JPMorgan Chase & Co. boosted their price target on Textron from $74.00 to $77.00 and gave the stock a “$66.52” rating in a research note on Monday, July 23rd.
Several institutional investors have recently added to or reduced their stakes in TXT. WINTON GROUP Ltd acquired a new position in Textron in the first quarter valued at approximately $287,000. IFM Investors Pty Ltd lifted its holdings in Textron by 42.7% in the second quarter. IFM Investors Pty Ltd now owns 12,016 shares of the aerospace company’s stock valued at $792,000 after acquiring an additional 3,596 shares during the period. Founders Capital Management LLC acquired a new position in Textron in the second quarter valued at approximately $211,000. State of Alaska Department of Revenue lifted its holdings in Textron by 27.7% in the second quarter. State of Alaska Department of Revenue now owns 53,507 shares of the aerospace company’s stock valued at $3,524,000 after acquiring an additional 11,600 shares during the period. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Textron in the second quarter valued at approximately $3,827,000. 84.96% of the stock is owned by hedge funds and other institutional investors.
TXT traded up $0.15 on Monday, hitting $56.88. The company had a trading volume of 1,774,393 shares, compared to its average volume of 3,039,215. Textron has a 12-month low of $51.49 and a 12-month high of $72.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 1.11. The firm has a market capitalization of $13.90 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66.
Textron (NYSE:TXT) last posted its earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the firm earned $0.65 EPS. Textron’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, sell-side analysts expect that Textron will post 3.2 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, December 13th. Textron’s dividend payout ratio (DPR) is 3.27%.
Textron Company Profile
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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