Textron Inc. (NYSE:TXT) Short Interest Down 16.7% in March

Textron Inc. (NYSE:TXT) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 4,850,000 shares, a decline of 16.7% from the March 15th total of 5,820,000 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is currently 4.2 days.

Textron Trading Down 0.7 %

Shares of TXT stock opened at $93.96 on Friday. Textron has a 52-week low of $61.27 and a 52-week high of $97.33. The stock has a market cap of $18.08 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.49 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The firm has a fifty day moving average of $91.04 and a 200-day moving average of $82.87.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Thursday, March 14th. Textron’s dividend payout ratio is 1.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TXT shares. JPMorgan Chase & Co. boosted their price objective on shares of Textron from $84.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 20th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group restated a “buy” rating and issued a $98.00 price objective on shares of Textron in a research note on Tuesday, January 2nd. Citigroup upped their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $105.00 in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.88.

Hedge Funds Weigh In On Textron

Hedge funds have recently made changes to their positions in the business. CVA Family Office LLC bought a new stake in shares of Textron in the 4th quarter worth about $29,000. Money Concepts Capital Corp grew its holdings in shares of Textron by 109.0% in the 4th quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 231 shares during the last quarter. CENTRAL TRUST Co grew its holdings in shares of Textron by 100.0% in the 3rd quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Textron by 393.9% in the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 390 shares during the last quarter. Finally, Trust Co. of Vermont bought a new stake in shares of Textron in the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.