Shares of Textron Inc. (NYSE:TXT) have been assigned an average rating of “Buy” from the thirteen research firms that are presently covering the stock. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $48.26.
A number of equities research analysts have commented on TXT shares. Morgan Stanley started coverage on Textron in a report on Thursday, June 23rd. They issued an “underweight” rating and a $39.00 target price for the company. Credit Suisse Group AG reissued a “buy” rating on shares of Textron in a report on Saturday, July 9th. Zacks Investment Research downgraded Textron from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Bank of America Corp. set a $45.00 target price on Textron and gave the company a “buy” rating in a report on Monday, July 25th. Finally, Drexel Hamilton reissued a “hold” rating on shares of Textron in a report on Wednesday, August 31st.
Textron (NYSE:TXT) opened at 39.75 on Monday. The company has a 50-day moving average of $40.16 and a 200 day moving average of $38.47. Textron has a 1-year low of $30.69 and a 1-year high of $43.93. The stock has a market cap of $10.71 billion, a P/E ratio of 15.00 and a beta of 1.44.
Textron (NYSE:TXT) last released its earnings results on Friday, July 22nd. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Textron had a return on equity of 14.72% and a net margin of 5.28%. The company earned $3.50 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter last year, the company earned $0.60 earnings per share. Textron’s quarterly revenue was up 8.1% compared to the same quarter last year. Analysts predict that Textron will post $2.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date is Wednesday, September 7th. Textron’s dividend payout ratio is presently 3.02%.
A number of hedge funds have recently bought and sold shares of TXT. Meeder Asset Management Inc. boosted its stake in Textron by 225.8% in the second quarter. Meeder Asset Management Inc. now owns 3,323 shares of the company’s stock worth $121,000 after buying an additional 2,303 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in Textron by 107.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,561 shares of the company’s stock worth $130,000 after buying an additional 1,841 shares in the last quarter. IFP Advisors Inc boosted its stake in Textron by 245.7% in the first quarter. IFP Advisors Inc now owns 5,082 shares of the company’s stock worth $185,000 after buying an additional 3,612 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Textron by 9.3% in the second quarter. Pacer Advisors Inc. now owns 5,440 shares of the company’s stock worth $199,000 after buying an additional 464 shares in the last quarter. Finally, Creative Planning boosted its stake in Textron by 24.7% in the second quarter. Creative Planning now owns 5,485 shares of the company’s stock worth $201,000 after buying an additional 1,087 shares in the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.
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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
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