Textron Reaches New 12-Month High at $39.58 (TXT)
Textron (NYSE:TXT) shares hit a new 52-week high during trading on Monday , Stock Ratings Network reports. The company traded as high as $39.58 and last traded at $39.42, with a volume of 1,666,792 shares traded. The stock had previously closed at $38.31.
TXT has been the subject of a number of recent research reports. Analysts at Nomura initiated coverage on shares of Textron in a research note on Friday. They set a “neutral” rating and a $41.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Textron from $30.00 to $43.00 in a research note on Thursday, January 23rd. They now have an “overweight” rating on the stock. Finally, analysts at Stifel Nicolaus downgraded shares of Textron from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $38.91.
The stock’s 50-day moving average is $36.32 and its 200-day moving average is $31.48. The company has a market cap of $11.071 billion and a price-to-earnings ratio of 21.89.
Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.60 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.05. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the company posted $0.56 earnings per share. Textron’s revenue was up 4.3% compared to the same quarter last year. Analysts expect that Textron will post $2.17 EPS for the current fiscal year.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services worldwide.