Textron’s (TXT) Buy Rating Reaffirmed at Jefferies Group LLC
Textron Inc. (NYSE:TXT)‘s stock had its “buy” rating restated by analysts at Jefferies Group LLC in a report released on Friday. They presently have a $65.00 price target on the aerospace company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 20.95% from the stock’s current price. Jefferies Group also issued estimates for Textron’s Q4 2017 earnings at $0.72 EPS, FY2018 earnings at $2.80 EPS, FY2019 earnings at $3.10 EPS and FY2020 earnings at $3.30 EPS.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, July 18th. Drexel Hamilton raised shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Monday, September 11th. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. BidaskClub cut shares of Textron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $55.00 price target (up from $50.00) on shares of Textron in a research report on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.08.
Textron (NYSE TXT) traded up 1.21% during trading on Friday, reaching $53.74. 3,015,183 shares of the company’s stock traded hands. The firm has a market cap of $14.23 billion, a PE ratio of 16.43 and a beta of 1.59. Textron has a 12 month low of $38.79 and a 12 month high of $55.80. The firm has a 50 day moving average price of $52.82 and a 200-day moving average price of $48.99.
Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. Textron had a net margin of 4.48% and a return on equity of 12.02%. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts forecast that Textron will post $2.51 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. MRJ Capital Inc. acquired a new position in shares of Textron during the 2nd quarter worth about $3,589,000. Airain ltd acquired a new position in shares of Textron during the 2nd quarter worth about $2,608,000. Bank of Nova Scotia increased its stake in shares of Textron by 939.6% during the 1st quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock worth $2,937,000 after purchasing an additional 55,782 shares during the last quarter. Highbridge Capital Management LLC increased its stake in shares of Textron by 153.1% during the 1st quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock worth $253,000 after purchasing an additional 15,308 shares during the last quarter. Finally, NBT Bank N A NY increased its stake in shares of Textron by 0.8% during the 2nd quarter. NBT Bank N A NY now owns 19,598 shares of the aerospace company’s stock worth $923,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.
Textron Company Profile
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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