Textron Given Overweight Rating at Barclays (TXT)
Textron (NYSE:TXT)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Barclays in a research note issued to investors on Monday, American Banking News reports. They currently have a $46.00 price objective on the stock, up from their previous price objective of $43.00. Barclays’ price objective indicates a potential upside of 19.60% from the company’s current price.
A number of other analysts have also recently weighed in on TXT. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Textron in a research note on Friday, May 2nd. They now have a $40.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Textron from $44.00 to $45.00 in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $39.08.
Shares of Textron (NYSE:TXT) traded up 2.65% during mid-day trading on Monday, hitting $39.48. The stock had a trading volume of 1,491,827 shares. Textron has a 52 week low of $25.08 and a 52 week high of $40.90. The stock has a 50-day moving average of $38.96 and a 200-day moving average of $35.73. The company has a market cap of $11.020 billion and a P/E ratio of 23.47.
Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.02. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts predict that Textron will post $2.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Wednesday, June 11th.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services worldwide.
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