A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Textron from a hold rating to a sell rating in a research note on Friday, November 17th. Drexel Hamilton upgraded shares of Textron from a hold rating to a buy rating and set a $58.00 target price on the stock in a report on Monday, September 11th. ValuEngine upgraded shares of Textron from a hold rating to a buy rating in a report on Friday, September 8th. Credit Suisse Group decreased their price target on shares of Textron from $61.00 to $59.00 and set an outperform rating on the stock in a research report on Friday, October 20th. Finally, Wells Fargo & Company raised their price target on shares of Textron from $54.00 to $59.00 and gave the stock an outperform rating in a research report on Friday, October 20th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Textron currently has a consensus rating of Hold and a consensus price target of $57.82.
Textron (TXT) traded up $0.87 during midday trading on Tuesday, hitting $54.79. 1,088,815 shares of the company were exchanged, compared to its average volume of 1,546,242. The firm has a market capitalization of $14,227.34, a price-to-earnings ratio of 21.52, a PEG ratio of 2.48 and a beta of 1.57. Textron has a fifty-two week low of $43.66 and a fifty-two week high of $56.47. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67.
Textron (NYSE:TXT) last issued its earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. analysts forecast that Textron will post 2.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, December 14th. Textron’s payout ratio is presently 3.45%.
A number of large investors have recently modified their holdings of TXT. Steward Partners Investment Advisory LLC bought a new stake in Textron in the third quarter valued at approximately $110,000. Invictus RG acquired a new position in shares of Textron in the third quarter valued at approximately $115,000. Bessemer Group Inc. boosted its holdings in shares of Textron by 66.7% in the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after buying an additional 1,043 shares during the period. Global X Management Co. LLC boosted its holdings in shares of Textron by 16.5% in the second quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after buying an additional 433 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Textron by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after buying an additional 26 shares during the period. 82.03% of the stock is 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.
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