Textron Inc. (TXT) Sees Strong Trading Volume
Textron Inc. (NYSE:TXT) saw strong trading volume on Monday . 1,530,682 shares were traded during trading, a decline of 17% from the previous session’s volume of 1,847,311 shares.The stock last traded at $37.94 and had previously closed at $36.99.
A number of analysts recently issued reports on the stock. Goldman Sachs Group Inc. restated a “hold” rating on shares of Textron in a report on Saturday, April 23rd. Morgan Stanley assumed coverage on shares of Textron in a report on Thursday, June 23rd. They set an “underweight” rating and a $39.00 price objective for the company. Credit Suisse Group AG restated a “buy” rating on shares of Textron in a report on Saturday. Zacks Investment Research upgraded shares of Textron from a “sell” rating to a “hold” rating in a report on Monday, April 11th. Finally, Cowen and Company decreased their price objective on shares of Textron from $53.00 to $51.00 in a report on Monday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $47.49.
The stock has a market capitalization of $10.28 billion and a P/E ratio of 14.79. The company’s 50-day moving average price is $37.73 and its 200-day moving average price is $36.77.
Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, April 20th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. During the same period in the previous year, the business earned $0.46 earnings per share. The firm earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that Textron Inc. will post $2.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 10th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Wednesday, June 8th.
Several large investors have bought and sold shares of TXT. Wells Fargo & Company MN boosted its stake in Textron by 10.5% in the fourth quarter. Wells Fargo & Company MN now owns 862,030 shares of the company’s stock valued at $36,214,000 after buying an additional 81,711 shares during the period. Bank of Montreal Can boosted its stake in Textron by 16.9% in the fourth quarter. Bank of Montreal Can now owns 111,323 shares of the company’s stock valued at $4,676,000 after buying an additional 16,080 shares during the period. Morgan Stanley boosted its stake in Textron by 37.8% in the fourth quarter. Morgan Stanley now owns 904,553 shares of the company’s stock valued at $38,002,000 after buying an additional 247,896 shares during the period. Mutual of America Capital Management LLC boosted its stake in Textron by 0.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 30,334 shares of the company’s stock valued at $1,274,000 after buying an additional 248 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake in Textron by 4.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 80,534 shares of the company’s stock valued at $3,383,000 after buying an additional 3,070 shares during the period.
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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
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