Textron (NYSE:TXT) updated its FY 2018 earnings guidance on Thursday. The company provided earnings per share guidance of $3.20-3.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.32.
Several research firms recently weighed in on TXT. Jefferies Financial Group increased their target price on shares of Textron to $82.00 and gave the company a buy rating in a research note on Wednesday, September 26th. Zacks Investment Research cut shares of Textron from a buy rating to a hold rating in a research note on Tuesday, September 18th. Bank of America set a $78.00 target price on shares of Textron and gave the company a buy rating in a research note on Wednesday, July 25th. Cowen reiterated a $66.44 rating and issued a $73.00 target price on shares of Textron in a research note on Wednesday, July 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Textron from $74.00 to $77.00 and gave the company a $66.52 rating in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $73.50.
NYSE TXT opened at $64.78 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.27 and a quick ratio of 1.11. Textron has a twelve month low of $51.07 and a twelve month high of $72.87. The stock has a market capitalization of $17.75 billion, a P/E ratio of 26.44, a P/E/G ratio of 1.88 and a beta of 1.40.
Textron (NYSE:TXT) last released its earnings results on Wednesday, July 18th. The aerospace company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.17. Textron had a net margin of 3.21% and a return on equity of 13.93%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Textron will post 3.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, September 13th. Textron’s payout ratio is presently 3.27%.
In other Textron news, VP Julie G. Duffy sold 6,562 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $68.13, for a total transaction of $447,069.06. Following the completion of the transaction, the vice president now owns 22,535 shares in the company, valued at $1,535,309.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Scott C. Donnelly sold 82,647 shares of the firm’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $67.17, for a total transaction of $5,551,398.99. Following the transaction, the chairman now owns 639,916 shares of the company’s stock, valued at approximately $42,983,157.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,209 shares of company stock valued at $9,035,968. Corporate insiders own 1.20% of the company’s stock.
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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