Jefferies Group LLC Reaffirms “Buy” Rating for Textron Inc. (TXT)

Textron Inc. (NYSE:TXT)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a note issued to investors on Tuesday.

TXT has been the topic of several other reports. Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Textron in a research note on Friday, January 20th. Deutsche Bank AG upped their price objective on shares of Textron from $43.00 to $47.00 and gave the stock a “hold” rating in a research note on Monday, December 5th. Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Textron in a research note on Saturday, January 28th. Finally, Zacks Investment Research cut shares of Textron from a “hold” rating to a “strong sell” rating in a research note on Monday, January 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.40.

Analyst Recommendations for Textron (NYSE:TXT)

Shares of Textron (NYSE:TXT) opened at 47.63 on Tuesday. The company has a market cap of $12.86 billion, a PE ratio of 13.50 and a beta of 1.61. The company’s 50-day moving average price is $48.06 and its 200 day moving average price is $44.82. Textron has a one year low of $34.00 and a one year high of $50.93.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 25th. The company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. Textron had a return on equity of 13.36% and a net margin of 6.98%. Textron’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 earnings per share. Equities analysts forecast that Textron will post $2.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 10th will be issued a $0.02 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $0.08 annualized dividend and a yield of 0.17%. Textron’s dividend payout ratio (DPR) is presently 2.27%.

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A number of large investors have recently bought and sold shares of TXT. Capital Research Global Investors raised its stake in Textron by 41.2% in the third quarter. Capital Research Global Investors now owns 17,469,176 shares of the company’s stock valued at $694,400,000 after buying an additional 5,100,000 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Textron by 81.0% in the third quarter. Bank of New York Mellon Corp now owns 4,458,694 shares of the company’s stock valued at $177,233,000 after buying an additional 1,995,663 shares in the last quarter. State Street Corp increased its position in Textron by 9.3% in the fourth quarter. State Street Corp now owns 11,192,096 shares of the company’s stock worth $543,492,000 after buying an additional 953,787 shares during the period. Impala Asset Management LLC acquired a new position in Textron during the fourth quarter worth $38,023,000. Finally, Prudential Financial Inc. increased its position in Textron by 82.3% in the third quarter. Prudential Financial Inc. now owns 1,734,537 shares of the company’s stock worth $68,948,000 after buying an additional 783,001 shares during the period. Institutional investors own 81.19% of the company’s stock.

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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