Shares of Textron Inc. (NYSE:TXT) have received an average recommendation of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $60.67.
TXT has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Textron from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Cowen reiterated a “buy” rating and set a $60.00 target price on shares of Textron in a research report on Tuesday, November 14th. Stephens set a $65.00 target price on shares of Textron and gave the company a “hold” rating in a research report on Thursday, January 11th. Wells Fargo & Co reissued an “outperform” rating and set a $67.00 price target (up from $59.00) on shares of Textron in a research note on Tuesday, January 16th. Finally, ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st.
Several hedge funds have recently bought and sold shares of TXT. Steward Partners Investment Advisory LLC purchased a new position in shares of Textron in the third quarter worth $110,000. Invictus RG purchased a new position in shares of Textron in the third quarter worth $115,000. Cerebellum GP LLC purchased a new position in shares of Textron in the fourth quarter worth $133,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Textron in the third quarter worth $201,000. Finally, BB&T Securities LLC purchased a new position in shares of Textron in the third quarter worth $203,000. 83.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Textron (NYSE TXT) traded up $0.59 during trading on Wednesday, reaching $58.25. 658,386 shares of the company’s stock traded hands, compared to its average volume of 1,588,609. Textron has a twelve month low of $45.00 and a twelve month high of $62.19. The company has a market capitalization of $15,090.00, a price-to-earnings ratio of 26.94, a PEG ratio of 1.81 and a beta of 1.37. The company has a current ratio of 2.19, a quick ratio of 1.06 and a debt-to-equity ratio of 0.69.
Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 31st. The aerospace company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.03). Textron had a net margin of 2.16% and a return on equity of 11.58%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. analysts anticipate that Textron will post 3.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, March 8th. Textron’s dividend payout ratio (DPR) is presently 3.74%.
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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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