Textron (NYSE:TXT) issued its quarterly earnings data on Wednesday. The aerospace company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.26, RTT News reports. Textron had a return on equity of 12.65% and a net margin of 2.74%. The business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Textron updated its FY18 guidance to $2.95-3.15 EPS.
Shares of NYSE TXT opened at $65.48 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.04 and a quick ratio of 1.06. The firm has a market cap of $16,750.79, a price-to-earnings ratio of 26.73, a PEG ratio of 2.02 and a beta of 1.36. Textron has a 1 year low of $45.00 and a 1 year high of $65.73.
The company also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Friday, March 9th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, March 8th. Textron’s payout ratio is currently 3.27%.
TXT has been the subject of a number of recent analyst reports. Citigroup increased their price objective on Textron from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, April 10th. Cowen reissued a “buy” rating and issued a $70.00 price objective on shares of Textron in a report on Monday, January 8th. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Jefferies Group reissued a “buy” rating and issued a $74.00 price objective on shares of Textron in a report on Sunday, February 4th. Finally, Bank of America raised Textron from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $57.00 to $75.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $67.17.
Hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new position in Textron during the 3rd quarter valued at $110,000. Cerebellum GP LLC bought a new position in Textron during the 4th quarter valued at $133,000. Franklin Street Advisors Inc. NC bought a new position in Textron during the 4th quarter valued at $207,000. HPM Partners LLC bought a new position in Textron during the 4th quarter valued at $214,000. Finally, Landscape Capital Management L.L.C. bought a new position in Textron during the 4th quarter valued at $218,000. 83.26% of the stock is owned by hedge funds and other institutional investors.
Textron Company Profile
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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