Textron Inc. (TXT) Given a $50.00 Price Target by Jefferies Group Analysts
Several other research firms also recently issued reports on TXT. Credit Suisse Group AG reaffirmed a buy rating on shares of Textron in a research note on Wednesday, August 31st. Morgan Stanley started coverage on Textron in a research note on Thursday, June 23rd. They set an underweight rating and a $39.00 price target for the company. Zacks Investment Research downgraded Textron from a hold rating to a sell rating in a research note on Friday, September 2nd. Robert W. Baird started coverage on Textron in a research note on Wednesday. They set an outperform rating and a $48.00 price target for the company. Finally, Bank of America Corp. set a $45.00 price target on Textron and gave the stock a buy rating in a research note on Monday, July 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Textron has an average rating of Buy and an average target price of $46.74.
Shares of Textron (NYSE:TXT) traded down 3.53% on Thursday, reaching $38.50. 2,510,713 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $40.11 and its 200-day moving average price is $38.61. Textron has a 52 week low of $30.69 and a 52 week high of $43.93. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 14.53 and a beta of 1.65.
Textron (NYSE:TXT) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The business earned $3.50 billion during the quarter, compared to the consensus estimate of $3.36 billion. Textron had a return on equity of 14.72% and a net margin of 5.28%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. Equities analysts predict that Textron will post $2.73 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Wednesday, September 7th. Textron’s payout ratio is currently 3.02%.
Several hedge funds have recently modified their holdings of TXT. Geode Capital Management LLC boosted its stake in shares of Textron by 1.4% in the first quarter. Geode Capital Management LLC now owns 2,250,485 shares of the company’s stock worth $81,888,000 after buying an additional 31,559 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Textron by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 229,652 shares of the company’s stock worth $8,397,000 after buying an additional 842 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Textron by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,242,145 shares of the company’s stock worth $264,049,000 after buying an additional 312,668 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Textron by 3.2% in the first quarter. BlackRock Group LTD now owns 1,649,411 shares of the company’s stock worth $60,138,000 after buying an additional 51,476 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Textron during the second quarter worth about $303,000. Institutional investors and hedge funds 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.
Receive News & Stock Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related stocks with our FREE daily email newsletter.