Textron Inc. (NYSE:TXT) – Equities researchers at Jefferies Group lowered their Q1 2018 earnings per share estimates for shares of Textron in a research report issued on Friday, Zacks Investment Research reports. Jefferies Group analyst S. Kahyaoglu now expects that the aerospace company will post earnings per share of $0.46 for the quarter, down from their previous estimate of $0.54. Jefferies Group currently has a “Buy” rating and a $74.00 target price on the stock. Jefferies Group also issued estimates for Textron’s Q3 2018 earnings at $0.78 EPS and Q4 2018 earnings at $1.07 EPS.
Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 31st. The aerospace company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.03). The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Textron had a net margin of 2.16% and a return on equity of 11.58%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS.
Several other equities research analysts have also commented on TXT. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Cowen reissued a “buy” rating and set a $70.00 target price on shares of Textron in a research report on Monday, January 8th. Morgan Stanley raised shares of Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 target price for the company in a research report on Thursday, February 1st. Wells Fargo & Co reissued an “outperform” rating and set a $67.00 target price (up from $59.00) on shares of Textron in a research report on Tuesday, January 16th. Finally, 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $60.50.
Textron (TXT) traded up $0.19 during trading hours on Monday, reaching $59.09. 2,913,683 shares of the company’s stock traded hands, compared to its average volume of 1,820,000. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 2.19. The stock has a market cap of $15,470.00, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.85 and a beta of 1.37. Textron has a 52-week low of $45.00 and a 52-week high of $62.19.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, March 8th. Textron’s payout ratio is 3.74%.
Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in Textron in the 3rd quarter valued at $110,000. Invictus RG bought a new position in Textron in the 3rd quarter valued at $115,000. Cerebellum GP LLC bought a new position in Textron in the 4th quarter valued at $133,000. Commerzbank Aktiengesellschaft FI bought a new position in Textron in the 3rd quarter valued at $201,000. Finally, BB&T Securities LLC bought a new position in Textron in the 3rd quarter valued at $203,000. 83.27% of the stock is owned by hedge funds and other institutional investors.
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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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