Analysts expect that Textron Inc. (NYSE:TXT) will post $3.91 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Textron’s earnings. The lowest sales estimate is $3.86 billion and the highest is $4.02 billion. Textron reported sales of $4.02 billion during the same quarter last year, which would suggest a negative year over year growth rate of 2.7%. The business is expected to announce its next earnings report on Wednesday, January 30th.
According to Zacks, analysts expect that Textron will report full-year sales of $14.27 billion for the current financial year, with estimates ranging from $14.09 billion to $14.81 billion. For the next financial year, analysts expect that the company will post sales of $14.61 billion, with estimates ranging from $14.09 billion to $15.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Textron.
Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the business posted $0.65 earnings per share. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year.
A number of brokerages have recently issued reports on TXT. ValuEngine cut Textron from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Morgan Stanley raised their price objective on Textron from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, July 12th. Citigroup raised their price objective on Textron to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Wells Fargo & Co reduced their price objective on Textron from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. Finally, Zacks Investment Research cut Textron from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Textron has a consensus rating of “Buy” and a consensus price target of $74.64.
Shares of NYSE:TXT opened at $53.63 on Thursday. Textron has a 12-month low of $51.49 and a 12-month high of $72.87. The stock has a market cap of $12.98 billion, a PE ratio of 22.23, a P/E/G ratio of 1.43 and a beta of 1.40. The company has a current ratio of 2.29, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. Textron’s payout ratio is presently 3.27%.
Several hedge funds and other institutional investors have recently bought and sold shares of TXT. Janus Henderson Group PLC grew its stake in shares of Textron by 439.9% in the second quarter. Janus Henderson Group PLC now owns 560,129 shares of the aerospace company’s stock worth $36,919,000 after purchasing an additional 456,384 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Textron in the second quarter worth about $25,458,000. First Trust Advisors LP bought a new stake in shares of Textron in the third quarter worth about $26,015,000. OppenheimerFunds Inc. grew its stake in shares of Textron by 1,361.8% in the second quarter. OppenheimerFunds Inc. now owns 312,804 shares of the aerospace company’s stock worth $20,617,000 after purchasing an additional 291,405 shares during the last quarter. Finally, WINTON GROUP Ltd grew its stake in shares of Textron by 5,739.1% in the second quarter. WINTON GROUP Ltd now owns 284,073 shares of the aerospace company’s stock worth $18,723,000 after purchasing an additional 279,208 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors.
Textron Company Profile
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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