Textron Inc. (TXT) Set to Announce Earnings on Thursday
Textron Inc. (NYSE:TXT) will post its Q316 quarterly earnings results on Thursday, October 20th. Analysts expect Textron to post earnings of $0.66 per share and revenue of $3.42 billion for the quarter.
Textron (NYSE:TXT) last issued its earnings results on Friday, July 22nd. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. Textron had a return on equity of 14.72% and a net margin of 5.28%. The business earned $3.50 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the prior year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts expect Textron to post $2.73 EPS for the current fiscal year and $2.95 EPS for the next fiscal year.
Shares of Textron Inc. (NYSE:TXT) opened at 38.09 on Wednesday. The firm has a 50 day moving average price of $39.48 and a 200 day moving average price of $38.73. Textron Inc. has a one year low of $30.69 and a one year high of $43.93. The stock has a market capitalization of $10.26 billion, a PE ratio of 14.37 and a beta of 1.65.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.08 dividend on an annualized basis and a yield of 0.21%. Textron’s payout ratio is 3.02%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in Textron by 9.3% in the second quarter. Pacer Advisors Inc. now owns 5,440 shares of the company’s stock valued at $199,000 after buying an additional 464 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in Textron during the second quarter valued at about $205,000. Seven Eight Capital LLC increased its position in Textron by 242.1% in the second quarter. Seven Eight Capital LLC now owns 6,500 shares of the company’s stock valued at $238,000 after buying an additional 4,600 shares during the last quarter. Southport Management L.L.C. bought a new position in Textron during the second quarter valued at about $274,000. Finally, Gideon Capital Advisors Inc. bought a new position in Textron during the second quarter valued at about $283,000. Institutional investors own 80.61% of the company’s stock.
TXT has been the topic of a number of analyst reports. Drexel Hamilton reiterated a “hold” rating on shares of Textron in a research report on Wednesday, August 31st. Robert W. Baird initiated coverage on Textron in a research report on Wednesday, October 5th. They set an “outperform” rating and a $48.00 price objective on the stock. Jefferies Group set a $50.00 price objective on Textron and gave the stock a “buy” rating in a research report on Thursday, October 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of Textron in a research report on Wednesday, August 31st. Finally, Zacks Investment Research downgraded Textron from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Textron presently has a consensus rating of “Buy” and an average price target of $46.74.
Textron Company Profile
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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