Textron Inc. (TXT) Rating Increased to Buy at ValuEngine
ValuEngine upgraded shares of Textron Inc. (NYSE:TXT) from a hold rating to a buy rating in a research note issued to investors on Friday.
Several other equities analysts have also weighed in on the company. Morgan Stanley lifted their price target on Textron from $45.00 to $47.00 and gave the company an underweight rating in a research note on Thursday, August 17th. BidaskClub lowered Textron from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Wells Fargo & Company restated an outperform rating and issued a $54.00 price target (up previously from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Bank of America Corporation lowered Textron from a buy rating to an underperform rating and cut their price target for the company from $53.00 to $45.00 in a research note on Friday, July 21st. Finally, Credit Suisse Group restated an outperform rating and issued a $55.00 price target (up previously from $50.00) on shares of Textron in a research note on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $53.42.
Shares of Textron (NYSE TXT) opened at 51.19 on Friday. The company’s 50 day moving average price is $48.75 and its 200 day moving average price is $47.72. The stock has a market cap of $13.55 billion, a PE ratio of 15.65 and a beta of 1.56. Textron has a 52-week low of $37.19 and a 52-week high of $51.19.
Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business earned $0.66 EPS. Textron’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Textron will post $2.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.16%. Textron’s dividend payout ratio (DPR) is currently 2.45%.
Large investors have recently bought and sold shares of the business. MRJ Capital Inc. purchased a new stake in Textron during the 2nd quarter worth approximately $3,589,000. Bank of Nova Scotia grew its position in shares of Textron by 939.6% in the first quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock valued at $2,937,000 after purchasing an additional 55,782 shares in the last quarter. Airain ltd purchased a new stake in shares of Textron in the second quarter valued at approximately $2,608,000. Highbridge Capital Management LLC grew its position in shares of Textron by 153.1% in the first quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock valued at $253,000 after purchasing an additional 15,308 shares in the last quarter. Finally, Mason Street Advisors LLC grew its position in shares of Textron by 1.0% in the first quarter. Mason Street Advisors LLC now owns 37,324 shares of the aerospace company’s stock valued at $1,776,000 after purchasing an additional 361 shares in the last quarter. Institutional investors own 81.50% of the company’s stock.
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. The Textron Aviation segment is engaged in general aviation.
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