Textron (NYSE:TXT) Hits New 52-Week High at $58.89


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Textron Inc. (NYSE:TXT)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $58.89 and last traded at $57.88, with a volume of 3323 shares changing hands. The stock had previously closed at $57.07.

Several research firms recently commented on TXT. Morgan Stanley upped their target price on shares of Textron from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, February 8th. Credit Suisse Group boosted their price target on shares of Textron from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 28th. TheStreet raised shares of Textron from a “c+” rating to a “b” rating in a report on Wednesday, January 27th. The Goldman Sachs Group raised shares of Textron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $45.00 to $71.00 in a report on Thursday. Finally, Robert W. Baird lowered shares of Textron from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Thursday, January 7th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $47.83.

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.27 and a current ratio of 2.33. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 49.17, a P/E/G ratio of 6.44 and a beta of 1.77. The business’s 50-day simple moving average is $53.33 and its 200-day simple moving average is $46.08.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 27th. The aerospace company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.15. Textron had a net margin of 2.26% and a return on equity of 8.69%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the company posted $1.11 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. On average, analysts forecast that Textron Inc. will post 1.88 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Friday, March 12th were given a $0.02 dividend. The ex-dividend date was Thursday, March 11th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. Textron’s dividend payout ratio is 2.14%.

In related news, VP Mark S. Bamford sold 3,300 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $51.75, for a total value of $170,775.00. Company insiders own 1.40% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Bard Financial Services Inc. acquired a new stake in Textron during the 4th quarter worth approximately $242,000. TRU Independence Asset Management 2 LLC acquired a new stake in Textron during the 4th quarter worth approximately $142,000. Encompass Wealth Advisors LLC acquired a new stake in Textron during the 4th quarter worth approximately $142,000. Amundi Pioneer Asset Management Inc. raised its holdings in Textron by 46.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 34,971 shares of the aerospace company’s stock worth $1,690,000 after buying an additional 11,018 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Textron during the 4th quarter worth approximately $3,159,000. Institutional investors and hedge funds own 85.57% of the company’s stock.

About Textron (NYSE:TXT)

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as offers maintenance, inspection, and repair services.

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