Credit Suisse Group reaffirmed their buy rating on shares of Textron Inc. (NYSE:TXT) in a report released on Wednesday, May 24th. The brokerage currently has a $50.00 target price on the aerospace company’s stock.
A number of other brokerages have also commented on TXT. Zacks Investment Research lowered shares of Textron from a hold rating to a strong sell rating in a report on Monday, January 30th. Jefferies Group LLC reiterated a buy rating and set a $60.00 price target on shares of Textron in a report on Tuesday, March 21st. Stephens assumed coverage on shares of Textron in a report on Thursday, April 13th. They set an equal weight rating and a $54.00 price target on the stock. Finally, Cowen and Company reiterated an outperform rating and set a $60.00 price target on shares of Textron in a report on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $51.22.
Textron (NYSE:TXT) traded up 0.32% on Wednesday, reaching $47.44. The company’s stock had a trading volume of 2,142,226 shares. Textron has a 12 month low of $34.00 and a 12 month high of $50.93. The firm’s 50 day moving average is $47.17 and its 200-day moving average is $47.80. The firm has a market cap of $12.70 billion, a P/E ratio of 14.14 and a beta of 1.55.
Textron (NYSE:TXT) last posted its earnings results on Wednesday, April 19th. The aerospace company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Textron had a net margin of 6.67% and a return on equity of 12.53%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, equities research analysts anticipate that Textron will post $2.52 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. Textron’s dividend payout ratio is currently 2.39%.
Several institutional investors have recently made changes to their positions in the stock. Cleararc Capital Inc. raised its position in shares of Textron by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,098 shares of the aerospace company’s stock valued at $290,000 after buying an additional 16 shares in the last quarter. YHB Investment Advisors Inc. raised its position in shares of Textron by 1.3% in the first quarter. YHB Investment Advisors Inc. now owns 7,398 shares of the aerospace company’s stock valued at $345,000 after buying an additional 98 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Textron by 0.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,490 shares of the aerospace company’s stock valued at $752,000 after buying an additional 100 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in shares of Textron by 2.2% in the first quarter. Meadow Creek Investment Management LLC now owns 5,840 shares of the aerospace company’s stock valued at $278,000 after buying an additional 128 shares in the last quarter. Finally, Cadence Capital Management LLC raised its position in shares of Textron by 1.7% in the first quarter. Cadence Capital Management LLC now owns 7,952 shares of the aerospace company’s stock valued at $378,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 82.88% 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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