Textron Inc. (TXT) Expected to Earn Q4 2016 Earnings of $0.78 Per Share
Textron Inc. (NYSE:TXT) – Stock analysts at Jefferies Group boosted their Q4 2016 earnings estimates for shares of Textron in a report issued on Wednesday. Jefferies Group analyst H. Rubel now anticipates that the firm will post earnings per share of $0.78 for the quarter, up from their prior forecast of $0.75. Jefferies Group currently has a “Buy” rating and a $50.00 price target on the stock.
A number of other analysts have also recently commented on the company. Morgan Stanley restated a “sell” rating on shares of Textron in a research report on Monday, August 15th. Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Bank of America Corp. set a $45.00 price target on Textron and gave the stock a “buy” rating in a research report on Monday, July 25th. Robert W. Baird started coverage on Textron in a research report on Wednesday. They issued an “outperform” rating and a $48.00 price target for the company. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $45.00 price target on shares of Textron in a research report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $46.74.
Shares of Textron (NYSE:TXT) traded down 4.54% during trading on Friday, hitting $38.10. The company had a trading volume of 1,830,402 shares. The firm’s 50 day moving average is $40.11 and its 200-day moving average is $38.61. Textron has a 52 week low of $30.69 and a 52 week high of $43.93. The stock has a market capitalization of $10.27 billion, a P/E ratio of 14.38 and a beta of 1.65.
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Textron (NYSE:TXT) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.02. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Textron had a return on equity of 14.72% and a net margin of 5.28%. Textron’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of TXT. Capital Research Global Investors boosted its position in shares of Textron by 131.4% in the second quarter. Capital Research Global Investors now owns 12,369,176 shares of the company’s stock worth $452,217,000 after buying an additional 7,024,376 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Textron by 478.3% in the first quarter. JPMorgan Chase & Co. now owns 1,091,992 shares of the company’s stock worth $39,813,000 after buying an additional 903,170 shares during the period. RidgeWorth Capital Management LLC acquired a new position in shares of Textron during the second quarter worth $28,644,000. Primecap Management Co. CA acquired a new position in shares of Textron during the second quarter worth $24,130,000. Finally, LSV Asset Management boosted its position in shares of Textron by 43.6% in the second quarter. LSV Asset Management now owns 1,462,197 shares of the company’s stock worth $53,457,000 after buying an additional 444,297 shares during the period. 80.63% of the stock is owned by institutional investors.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were issued a $0.02 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.08 dividend on an annualized basis and a yield of 0.20%. Textron’s dividend payout ratio (DPR) is presently 3.02%.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
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