Wells Fargo & Co reiterated their outperform rating on shares of Textron (NYSE:TXT) in a research report released on Tuesday morning, The Fly reports. The firm currently has a $67.00 price objective on the aerospace company’s stock, up from their previous price objective of $59.00.

Several other equities research analysts also recently commented on TXT. Zacks Investment Research raised Textron from a hold rating to a buy rating and set a $59.00 target price for the company in a report on Thursday, September 21st. Jefferies Group reaffirmed a buy rating and set a $60.00 target price on shares of Textron in a report on Tuesday, September 26th. ValuEngine downgraded Textron from a buy rating to a hold rating in a report on Monday, October 2nd. Stephens reaffirmed an equal weight rating and set a $63.00 target price (up from $54.00) on shares of Textron in a report on Friday, October 13th. Finally, Cowen reaffirmed a buy rating and set a $60.00 target price on shares of Textron in a report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $59.64.

Shares of Textron (NYSE:TXT) opened at $58.90 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $15,491.75, a price-to-earnings ratio of 25.39, a PEG ratio of 2.36 and a beta of 1.57. Textron has a twelve month low of $43.66 and a twelve month high of $60.54.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Textron had a return on equity of 12.02% and a net margin of 4.48%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. analysts forecast that Textron will post 2.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, December 14th. Textron’s payout ratio is 3.45%.

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its position in Textron by 0.6% during the third quarter. Rhumbline Advisers now owns 416,185 shares of the aerospace company’s stock valued at $22,424,000 after buying an additional 2,391 shares during the period. First Trust Advisors LP raised its position in Textron by 1.0% during the third quarter. First Trust Advisors LP now owns 904,301 shares of the aerospace company’s stock valued at $48,724,000 after buying an additional 9,022 shares during the period. Dimensional Fund Advisors LP raised its position in Textron by 0.9% during the third quarter. Dimensional Fund Advisors LP now owns 3,604,911 shares of the aerospace company’s stock valued at $194,233,000 after buying an additional 32,525 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Textron by 20.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,472 shares of the aerospace company’s stock valued at $1,058,000 after buying an additional 3,776 shares during the period. Finally, Regentatlantic Capital LLC raised its position in Textron by 10.7% during the third quarter. Regentatlantic Capital LLC now owns 95,060 shares of the aerospace company’s stock valued at $5,122,000 after buying an additional 9,155 shares during the period. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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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.

The Fly

Analyst Recommendations for Textron (NYSE:TXT)

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