Textron Inc. (NYSE:TXT) – Stock analysts at Jefferies Group reduced their FY2020 earnings per share (EPS) estimates for Textron in a research report issued on Wednesday. Jefferies Group analyst S. Kahyaoglu now forecasts that the aerospace company will earn $3.45 per share for the year, down from their previous forecast of $3.55. Jefferies Group has a “Buy” rating and a $60.00 price objective on the stock.

Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Tuesday, July 18th. Credit Suisse Group restated a “buy” rating and set a $50.00 price target on shares of Textron in a research report on Wednesday, May 24th. Stephens initiated coverage on shares of Textron in a research report on Thursday, April 13th. They set an “equal weight” rating and a $54.00 price target for the company. BidaskClub upgraded shares of Textron from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $54.00 price target (up from $52.00) on shares of Textron in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Textron currently has an average rating of “Hold” and a consensus price target of $53.60.

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Shares of Textron (TXT) traded down 0.08% during midday trading on Monday, reaching $48.45. The company had a trading volume of 317,713 shares. The firm has a market capitalization of $13.05 billion, a P/E ratio of 14.81 and a beta of 1.56. Textron has a one year low of $37.19 and a one year high of $50.93. The company has a 50 day moving average price of $47.58 and a 200-day moving average price of $47.73.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Textron by 3,689.9% in the first quarter. BlackRock Inc. now owns 17,144,765 shares of the aerospace company’s stock worth $815,921,000 after buying an additional 16,692,390 shares in the last quarter. Vanguard Group Inc. increased its stake in Textron by 3.4% in the first quarter. Vanguard Group Inc. now owns 24,537,994 shares of the aerospace company’s stock worth $1,167,763,000 after buying an additional 812,940 shares in the last quarter. Victory Capital Management Inc. increased its stake in Textron by 33.8% in the first quarter. Victory Capital Management Inc. now owns 2,927,970 shares of the aerospace company’s stock worth $139,342,000 after buying an additional 739,374 shares in the last quarter. Gotham Asset Management LLC increased its stake in Textron by 2,690.3% in the first quarter. Gotham Asset Management LLC now owns 561,971 shares of the aerospace company’s stock worth $26,744,000 after buying an additional 541,831 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Textron by 17.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,099 shares of the aerospace company’s stock worth $166,712,000 after buying an additional 524,664 shares in the last quarter. 82.66% of the stock is owned by institutional investors.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 9th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Wednesday, June 7th. Textron’s dividend payout ratio is currently 2.45%.

About Textron

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.

Earnings History and Estimates for Textron (NYSE:TXT)

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