Textron Inc. (TXT) PT Set at $50.00 by Jefferies Group
Textron Inc. (NYSE:TXT) has been given a $50.00 price objective by investment analysts at Jefferies Group in a report released on Thursday. The firm presently has a a “buy” rating on the stock. Jefferies Group’s price target indicates a potential upside of 25.28% from the stock’s current price.
A number of other brokerages have also issued reports on TXT. Credit Suisse Group AG reissued a “buy” rating on shares of Textron in a report on Wednesday, August 31st. Morgan Stanley started coverage on shares of Textron in a research note on Thursday, June 23rd. They set an “underweight” rating and a $39.00 target price on the stock. Zacks Investment Research lowered shares of Textron from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Robert W. Baird started coverage on shares of Textron in a research note on Wednesday. They set an “outperform” rating and a $48.00 target price on the stock. Finally, Bank of America Corp. set a $45.00 target price on shares of Textron and gave the company a “buy” rating in a research note on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Textron has an average rating of “Buy” and a consensus price target of $46.74.
Textron (NYSE:TXT) traded down 3.48% during trading on Thursday, reaching $38.52. The company had a trading volume of 2,676,157 shares. Textron has a one year low of $30.69 and a one year high of $43.93. The company has a 50-day moving average price of $40.11 and a 200 day moving average price of $38.61. The company has a market capitalization of $10.38 billion, a price-to-earnings ratio of 14.54 and a beta of 1.65.
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Textron (NYSE:TXT) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.36 billion. Textron had a net margin of 5.28% and a return on equity of 14.72%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. Analysts expect that Textron will post $2.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.20%. Textron’s dividend payout ratio is presently 3.02%.
Several hedge funds have recently made changes to their positions in TXT. Meeder Asset Management Inc. raised its stake in shares of Textron by 225.8% in the second quarter. Meeder Asset Management Inc. now owns 3,323 shares of the company’s stock worth $121,000 after buying an additional 2,303 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in shares of Textron by 107.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,561 shares of the company’s stock worth $130,000 after buying an additional 1,841 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Textron by 245.7% in the first quarter. IFP Advisors Inc now owns 5,082 shares of the company’s stock worth $185,000 after buying an additional 3,612 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Textron by 9.3% in the second quarter. Pacer Advisors Inc. now owns 5,440 shares of the company’s stock worth $199,000 after buying an additional 464 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Textron by 24.7% in the second quarter. Creative Planning now owns 5,485 shares of the company’s stock worth $201,000 after buying an additional 1,087 shares in the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.
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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