Brokerages Set Textron Inc. (TXT) PT at $53.75
Textron Inc. (NYSE:TXT) has been assigned a consensus rating of “Hold” from the fourteen research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $53.75.
Several brokerages have recently issued reports on TXT. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. BidaskClub cut shares of Textron from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Drexel Hamilton raised shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Monday, September 11th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price target on shares of Textron in a research report on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Thursday, September 21st.
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Shares of Textron (NYSE:TXT) traded down 0.29% on Friday, reaching $55.49. 855,884 shares of the company traded hands. The stock has a 50-day moving average price of $51.24 and a 200 day moving average price of $48.50. The firm has a market capitalization of $14.69 billion, a P/E ratio of 16.96 and a beta of 1.59. Textron has a 1-year low of $37.19 and a 1-year high of $55.79.
Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Analysts anticipate that Textron will post $2.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 15th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.14%. Textron’s dividend payout ratio (DPR) is 2.45%.
Large investors have recently modified their holdings of the stock. MRJ Capital Inc. acquired a new stake in Textron in the second quarter valued at approximately $3,589,000. Airain ltd acquired a new stake in Textron in the second quarter valued at approximately $2,608,000. Bank of Nova Scotia raised its holdings in 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 acquiring an additional 55,782 shares in the last quarter. Highbridge Capital Management LLC raised its holdings in 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 acquiring an additional 15,308 shares in the last quarter. Finally, NBT Bank N A NY raised its holdings in Textron by 0.8% in the second quarter. NBT Bank N A NY now owns 19,598 shares of the aerospace company’s stock valued at $923,000 after acquiring an additional 158 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.
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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