Shares of Textron Inc. (NYSE:TXT) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $51.20 and last traded at $52.62, with a volume of 107330 shares traded. The stock had previously closed at $54.45.
A number of brokerages have recently issued reports on TXT. Jefferies Financial Group set a $68.00 price objective on shares of Textron and gave the stock a “buy” rating in a research note on Friday, November 30th. Zacks Investment Research cut shares of Textron from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Morgan Stanley set a $71.00 price objective on shares of Textron and gave the stock a “hold” rating in a research note on Thursday, October 11th. ValuEngine cut shares of Textron from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Finally, Wells Fargo & Co reduced their price objective on shares of Textron from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $72.73.
The company has a market cap of $12.88 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62. The company has a current ratio of 2.29, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70.
Textron (NYSE:TXT) last posted its earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.15). The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Textron had a net margin of 6.11% and a return on equity of 13.72%. The business’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. On average, analysts predict that Textron Inc. will post 3.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.16%. Textron’s payout ratio is 3.27%.
A number of institutional investors and hedge funds have recently bought and sold shares of TXT. Marshall Wace LLP bought a new position in Textron during the third quarter valued at $2,498,000. MARSHALL WACE ASIA Ltd bought a new position in Textron during the third quarter valued at $834,000. Belpointe Asset Management LLC bought a new position in Textron during the third quarter valued at $143,000. Morgan Stanley lifted its position in Textron by 3.7% during the third quarter. Morgan Stanley now owns 782,336 shares of the aerospace company’s stock valued at $55,914,000 after purchasing an additional 27,783 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Textron by 7.1% during the third quarter. Legal & General Group Plc now owns 1,117,894 shares of the aerospace company’s stock valued at $79,895,000 after purchasing an additional 74,399 shares during the last quarter. 83.80% of the stock is owned by institutional investors.
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About Textron (NYSE:TXT)
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.
See Also: Retained Earnings
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