Textron Inc. (TXT) Set to Announce Earnings on Thursday
Textron Inc. (NYSE:TXT) is set to release its Q316 earnings data on Thursday, October 20th. Analysts expect Textron to post earnings of $0.66 per share and revenue of $3.42 billion for the quarter.
Textron (NYSE:TXT) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Textron had a net margin of 5.28% and a return on equity of 14.72%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. On average, analysts expect Textron to post $2.73 EPS for the current fiscal year and $2.95 EPS for the next fiscal year.
Textron Inc. (NYSE:TXT) opened at 38.09 on Wednesday. The company has a market cap of $10.26 billion, a P/E ratio of 14.37 and a beta of 1.65. Textron Inc. has a 12-month low of $30.69 and a 12-month high of $43.93. The stock’s 50 day moving average is $39.48 and its 200 day moving average is $38.73.
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The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were given 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 was Wednesday, September 7th. Textron’s dividend payout ratio is 3.02%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its position in 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 during the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in Textron during the second quarter worth $205,000. Seven Eight Capital LLC boosted its position in Textron by 242.1% in the second quarter. Seven Eight Capital LLC now owns 6,500 shares of the company’s stock worth $238,000 after buying an additional 4,600 shares during the last quarter. Southport Management L.L.C. bought a new position in Textron during the second quarter worth $274,000. Finally, Gideon Capital Advisors Inc. bought a new position in Textron during the second quarter worth $283,000. 80.61% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on TXT. Drexel Hamilton restated a “hold” rating on shares of Textron in a report on Wednesday, August 31st. Robert W. Baird began coverage on shares of Textron in a report on Wednesday, October 5th. They set an “outperform” rating and a $48.00 target price for the company. Jefferies Group set a $50.00 target price on shares of Textron and gave the stock a “buy” rating in a report on Thursday, October 6th. Credit Suisse Group AG restated a “buy” rating on shares of Textron in a report on Wednesday, August 31st. Finally, Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Textron currently has a consensus rating of “Buy” and an average target price of $46.74.
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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