Textron Inc. (TXT) Receives Average Recommendation of “Hold” from Analysts
Textron Inc. (NYSE:TXT) has earned a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $53.60.
A number of research analysts have recently commented on TXT shares. Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Credit Suisse Group restated a “buy” rating and issued a $50.00 price target on shares of Textron in a report on Wednesday, May 24th. Cowen and Company restated an “outperform” rating and issued a $60.00 price target on shares of Textron in a report on Saturday, April 22nd. BidaskClub cut shares of Textron from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Finally, Bank of America Corporation cut shares of Textron from a “buy” rating to an “underperform” rating and cut their price target for the stock from $53.00 to $45.00 in a report on Friday, July 21st.
Shares of Textron (NYSE:TXT) traded up 0.50% on Friday, reaching $48.48. 966,039 shares of the company were exchanged. Textron has a 52 week low of $37.19 and a 52 week high of $50.93. The company’s 50-day moving average is $48.43 and its 200-day moving average is $47.69. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 14.82 and a beta of 1.56.
Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. On average, equities analysts expect that Textron will post $2.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.17%. The ex-dividend date is Thursday, September 14th. Textron’s payout ratio is 2.45%.
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Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position 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 last quarter. Neuberger Berman Group LLC boosted its stake in Textron by 28.4% in the second quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock worth $203,650,000 after buying an additional 957,464 shares in the last quarter. Vanguard Group Inc. boosted 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. boosted its stake in Textron by 27.3% in the second quarter. Victory Capital Management Inc. now owns 3,727,749 shares of the aerospace company’s stock worth $175,577,000 after buying an additional 799,779 shares in the last quarter. Finally, Gotham Asset Management LLC boosted 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. Institutional investors own 83.55% 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. The Textron Aviation segment is engaged in general aviation.
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