Several other research firms also recently issued reports on TXT. Zacks Investment Research downgraded Textron from a buy rating to a hold rating in a report on Thursday, October 12th. Jefferies Group restated a buy rating and set a $65.00 price objective on shares of Textron in a report on Friday, October 20th. Citigroup lifted their price objective on Textron from $54.00 to $61.00 and gave the stock a buy rating in a report on Friday, October 20th. Wells Fargo & Co lifted their price objective on Textron from $54.00 to $59.00 and gave the stock an outperform rating in a report on Friday, October 20th. Finally, Cowen reiterated a buy rating and issued a $60.00 price target on shares of Textron in a report on Tuesday, November 28th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $58.91.
Shares of Textron (NYSE TXT) opened at $60.15 on Thursday. The company has a current ratio of 2.08, a quick ratio of 0.96 and a debt-to-equity ratio of 0.67. Textron has a twelve month low of $43.66 and a twelve month high of $60.19. The stock has a market capitalization of $15,844.71, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 2.44 and a beta of 1.57.
Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the business earned $0.61 EPS. Textron’s revenue for the quarter was up 7.2% compared to the same quarter last year. equities analysts anticipate that Textron will post 2.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.13%. Textron’s dividend payout ratio (DPR) is 3.45%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Street Advisors Inc. NC bought a new stake in shares of Textron in the 4th quarter valued at approximately $207,000. Parametric Portfolio Associates LLC increased its holdings in shares of Textron by 20.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 575,945 shares of the aerospace company’s stock valued at $31,032,000 after acquiring an additional 99,183 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Textron in the 3rd quarter valued at approximately $110,000. IFM Investors Pty Ltd bought a new stake in shares of Textron in the 3rd quarter valued at approximately $501,000. Finally, Neuberger Berman Group LLC boosted its position in Textron by 13.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,886,812 shares of the aerospace company’s stock valued at $263,302,000 after purchasing an additional 563,037 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.
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.
Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.