Jefferies Group Comments on Textron Inc.’s Q4 2016 Earnings (TXT)
Textron Inc. (NYSE:TXT) – Research analysts at Jefferies Group raised their Q4 2016 earnings per share estimates for Textron in a research report issued to clients and investors on Wednesday. Jefferies Group analyst H. Rubel now expects that the firm will earn $0.78 per share for the quarter, up from their prior forecast of $0.75. Jefferies Group currently has a “Buy” rating and a $50.00 target price on the stock.
Textron (NYSE:TXT) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.02. Textron had a net margin of 5.28% and a return on equity of 14.72%. The business earned $3.50 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the business posted $0.60 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis.
Several other analysts also recently issued reports on TXT. Morgan Stanley initiated 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 reaffirmed a “buy” rating on shares of Textron in a report on Saturday, July 9th. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Bank of America Corp. set a $45.00 price objective on shares of Textron and gave the stock a “buy” rating in a report on Monday, July 25th. Finally, Drexel Hamilton reaffirmed a “hold” rating on shares of Textron in a report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Textron currently has a consensus rating of “Buy” and an average target price of $46.74.
Textron (NYSE:TXT) opened at 38.49 on Friday. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of 14.52 and a beta of 1.65. Textron has a 1-year low of $30.69 and a 1-year high of $43.93. The firm’s 50-day moving average is $40.05 and its 200-day moving average is $38.63.
Large investors have recently made changes to their positions in the company. Prudential PLC boosted its stake in shares of Textron by 13.0% in the first quarter. Prudential PLC now owns 1,673,800 shares of the company’s stock worth $61,027,000 after buying an additional 192,600 shares during the period. Geode Capital Management LLC boosted its stake in shares of Textron by 1.4% in the first quarter. Geode Capital Management LLC now owns 2,250,485 shares of the company’s stock worth $81,888,000 after buying an additional 31,559 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of Textron by 3.2% in the first quarter. Pictet Asset Management Ltd. now owns 139,988 shares of the company’s stock worth $4,781,000 after buying an additional 4,400 shares during the period. State Street Corp boosted its stake in shares of Textron by 1.4% in the first quarter. State Street Corp now owns 10,135,736 shares of the company’s stock worth $369,558,000 after buying an additional 143,285 shares during the period. Finally, ING Groep NV purchased a new stake in shares of Textron during the first quarter worth about $227,000. Institutional investors and hedge funds own 80.63% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Wednesday, September 7th. Textron’s dividend payout ratio is 3.02%.
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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
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