Brokerages expect that Textron Inc. (NYSE:TXT) will report sales of $3.6 billion for the current quarter, according to Zacks. Four analysts have provided estimates for Textron’s earnings, with the lowest sales estimate coming in at $3.56 billion and the highest estimate coming in at $3.66 billion. Textron posted sales of $3.51 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.6%. The business is expected to report its next earnings report on Friday, July 28th.
According to Zacks, analysts expect that Textron will report full-year sales of $3.6 billion for the current year, with estimates ranging from $14.31 billion to $14.69 billion. For the next financial year, analysts forecast that the business will post sales of $14.92 billion per share, with estimates ranging from $14.86 billion to $15.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Textron.
Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, April 19th. The aerospace company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Textron had a net margin of 6.98% and a return on equity of 13.36%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted $0.55 EPS. The company’s revenue was down 3.4% on a year-over-year basis.
Several research analysts have recently weighed in on TXT shares. Credit Suisse Group AG reiterated a “buy” rating and issued a $50.00 price target on shares of Textron in a report on Tuesday, April 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Textron in a report on Tuesday, March 21st. Stephens started coverage on shares of Textron in a report on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 price target for the company. Cowen and Company reiterated an “outperform” rating and issued a $60.00 price target on shares of Textron in a report on Saturday, April 22nd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $60.00 price target on shares of Textron in a report on Friday, January 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Textron presently has a consensus rating of “Hold” and a consensus price target of $51.22.
Textron (NYSE:TXT) traded down 0.34% during trading on Wednesday, reaching $46.92. 243,984 shares of the company were exchanged. Textron has a 52-week low of $34.00 and a 52-week high of $50.93. The firm has a 50-day moving average of $46.90 and a 200-day moving average of $46.81. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 13.99 and a beta of 1.61.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 9th 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 Wednesday, June 7th. Textron’s payout ratio is 2.27%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of Textron by 41.2% in the third quarter. Capital Research Global Investors now owns 17,469,176 shares of the aerospace company’s stock valued at $694,400,000 after buying an additional 5,100,000 shares during the last quarter. State Street Corp boosted its position in shares of Textron by 9.3% in the fourth quarter. State Street Corp now owns 11,192,096 shares of the aerospace company’s stock valued at $543,492,000 after buying an additional 953,787 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Textron by 8.7% in the first quarter. American Century Companies Inc. now owns 5,204,734 shares of the aerospace company’s stock valued at $247,693,000 after buying an additional 415,861 shares during the last quarter. TCW Group Inc. boosted its position in shares of Textron by 5.1% in the fourth quarter. TCW Group Inc. now owns 3,084,010 shares of the aerospace company’s stock valued at $149,760,000 after buying an additional 150,591 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Textron by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,978,435 shares of the aerospace company’s stock valued at $144,633,000 after buying an additional 45,568 shares during the last quarter. Institutional investors and hedge funds own 81.19% 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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