Shares of Textron Inc. (NYSE:TXT) have been assigned a consensus recommendation of “Buy” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $67.42.
TXT has been the topic of several recent research reports. ValuEngine raised shares of Textron from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. TheStreet lowered shares of Textron from a “b” rating to a “c+” rating in a report on Friday, January 4th. Susquehanna Bancshares initiated coverage on shares of Textron in a report on Thursday, January 10th. They set a “neutral” rating and a $52.00 target price on the stock. Zacks Investment Research lowered shares of Textron from a “hold” rating to a “sell” rating in a report on Saturday, November 17th. Finally, Cowen reaffirmed a “buy” rating and set a $70.00 target price on shares of Textron in a report on Monday, December 17th.
Shares of NYSE:TXT opened at $51.78 on Friday. The firm has a market capitalization of $12.11 billion, a PE ratio of 15.50, a P/E/G ratio of 1.13 and a beta of 1.67. Textron has a one year low of $43.27 and a one year high of $72.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 2.14.
Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, January 24th. The aerospace company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.17. Textron had a net margin of 8.75% and a return on equity of 15.51%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts expect that Textron will post 3.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.15%. Textron’s payout ratio is currently 2.40%.
In other Textron news, CFO Frank T. Connor sold 72,732 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $55.17, for a total transaction of $4,012,624.44. Following the completion of the sale, the chief financial officer now owns 186,456 shares of the company’s stock, valued at approximately $10,286,777.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott C. Donnelly sold 150,226 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $55.04, for a total transaction of $8,268,439.04. Following the sale, the chief executive officer now directly owns 707,495 shares of the company’s stock, valued at approximately $38,940,524.80. The disclosure for this sale can be found here. Insiders have sold a total of 458,112 shares of company stock valued at $25,222,635 in the last three months. 1.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its position in Textron by 191.9% during the 3rd quarter. GSA Capital Partners LLP now owns 17,784 shares of the aerospace company’s stock valued at $1,271,000 after buying an additional 11,691 shares during the period. United Services Automobile Association boosted its position in Textron by 19.0% during the 3rd quarter. United Services Automobile Association now owns 123,344 shares of the aerospace company’s stock valued at $8,815,000 after buying an additional 19,690 shares during the period. SG Americas Securities LLC boosted its position in Textron by 74.8% during the 4th quarter. SG Americas Securities LLC now owns 41,729 shares of the aerospace company’s stock valued at $1,919,000 after buying an additional 17,858 shares during the period. NuWave Investment Management LLC boosted its position in Textron by 489.6% during the 4th quarter. NuWave Investment Management LLC now owns 6,079 shares of the aerospace company’s stock valued at $279,000 after buying an additional 5,048 shares during the period. Finally, Retirement Systems of Alabama boosted its position in Textron by 4.4% during the 4th quarter. Retirement Systems of Alabama now owns 213,710 shares of the aerospace company’s stock valued at $9,829,000 after buying an additional 9,008 shares during the period. 83.49% of the stock is owned by institutional investors and hedge funds.
Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.
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