Textron (NYSE:TXT) issued its earnings results on Wednesday. The aerospace company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07, RTT News reports. Textron had a return on equity of 15.66% and a net margin of 8.79%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. Textron’s revenue was down 13.4% on a year-over-year basis. Textron updated its FY 2019 guidance to $3.65-3.85 EPS and its FY19 guidance to $3.65-3.85 EPS.

NYSE TXT opened at $48.88 on Thursday. Textron has a 52 week low of $43.27 and a 52 week high of $72.87. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.16 and a beta of 1.76. The company has a quick ratio of 0.99, a current ratio of 2.17 and a debt-to-equity ratio of 0.67. The company’s 50-day simple moving average is $50.70.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, June 13th. Textron’s payout ratio is currently 2.40%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXT. D. E. Shaw & Co. Inc. increased its position in shares of Textron by 406.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 799,985 shares of the aerospace company’s stock valued at $36,792,000 after purchasing an additional 641,926 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Textron by 872.9% during the 4th quarter. Squarepoint Ops LLC now owns 659,807 shares of the aerospace company’s stock valued at $30,345,000 after acquiring an additional 591,990 shares during the period. Millennium Management LLC grew its stake in shares of Textron by 181.8% during the 4th quarter. Millennium Management LLC now owns 780,584 shares of the aerospace company’s stock valued at $35,899,000 after acquiring an additional 503,589 shares during the period. LSV Asset Management grew its stake in shares of Textron by 58.9% during the 1st quarter. LSV Asset Management now owns 1,266,219 shares of the aerospace company’s stock valued at $64,146,000 after acquiring an additional 469,385 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Textron by 418.5% during the 1st quarter. Bank of Montreal Can now owns 572,621 shares of the aerospace company’s stock valued at $29,009,000 after acquiring an additional 462,176 shares during the period. 83.98% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the company. Credit Suisse Group reissued a “buy” rating and issued a $241.00 target price on shares of FedEx in a research report on Monday, April 1st. Zacks Investment Research lowered Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $64.60.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Earnings History for Textron (NYSE:TXT)

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