Q3 2017 EPS Estimates for Textron Inc. (TXT) Reduced by Analyst
Textron Inc. (NYSE:TXT) – Investment analysts at Jefferies Group reduced their Q3 2017 earnings estimates for shares of Textron in a research report issued to clients and investors on Wednesday. Jefferies Group analyst S. Kahyaoglu now expects that the aerospace company will post earnings of $0.58 per share for the quarter, down from their prior estimate of $0.67. Jefferies Group currently has a “Buy” rating and a $60.00 target price on the stock.
TXT has been the subject of a number of other research reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Textron in a report on Wednesday, May 24th. Stephens initiated coverage on shares of Textron in a report on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 price objective for the company. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday. Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Textron in a report on Saturday, April 22nd. Finally, BidaskClub raised shares of Textron from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $53.56.
Textron (TXT) opened at 48.63 on Friday. The company has a 50-day moving average of $47.58 and a 200 day moving average of $47.73. Textron has a one year low of $37.19 and a one year high of $50.93. The company has a market cap of $13.02 billion, a P/E ratio of 14.50 and a beta of 1.56.
Textron (NYSE:TXT) last issued its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. Textron’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Textron by 3,689.9% in the first quarter. BlackRock Inc. now owns 17,144,765 shares of the aerospace company’s stock valued at $815,921,000 after buying an additional 16,692,390 shares during the period. Vanguard Group Inc. raised its stake in shares of Textron by 3.4% in the first quarter. Vanguard Group Inc. now owns 24,537,994 shares of the aerospace company’s stock valued at $1,167,763,000 after buying an additional 812,940 shares during the period. Victory Capital Management Inc. raised its stake in shares of Textron by 33.8% in the first quarter. Victory Capital Management Inc. now owns 2,927,970 shares of the aerospace company’s stock valued at $139,342,000 after buying an additional 739,374 shares during the period. Gotham Asset Management LLC raised its stake in shares of Textron by 2,690.3% in the first quarter. Gotham Asset Management LLC now owns 561,971 shares of the aerospace company’s stock valued at $26,744,000 after buying an additional 541,831 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Textron by 17.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,099 shares of the aerospace company’s stock valued at $166,712,000 after buying an additional 524,664 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 9th were given a $0.02 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. Textron’s dividend payout ratio (DPR) is 2.45%.
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. The Textron Aviation segment is engaged in general aviation.
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