Textron Inc. (TXT) PT Set at $50.00 by Jefferies Group
Textron Inc. (NYSE:TXT) received a $50.00 price target from investment analysts at Jefferies Group in a research note issued to investors on Thursday. The firm presently has a a “buy” rating on the stock. Jefferies Group’s target price indicates a potential upside of 29.90% from the stock’s current price.
TXT has been the topic of several other reports. Morgan Stanley assumed coverage on Textron in a report on Thursday, June 23rd. They issued an “underweight” rating and a $39.00 target price on the stock. Credit Suisse Group AG reissued a “buy” rating on shares of Textron in a report on Saturday, July 9th. Zacks Investment Research downgraded Textron from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Bank of America Corp. set a $45.00 target price on Textron and gave the stock a “buy” rating in a report on Monday, July 25th. Finally, Drexel Hamilton reissued 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 issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.74.
Shares of Textron (NYSE:TXT) opened at 38.49 on Thursday. Textron has a one year low of $30.69 and a one year high of $43.93. The company has a 50-day moving average price of $40.05 and a 200 day moving average price of $38.63. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 14.52 and a beta of 1.65.
Textron (NYSE:TXT) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Textron had a return on equity of 14.72% and a net margin of 5.28%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities research analysts expect that Textron will post $2.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Wednesday, September 7th. Textron’s dividend payout ratio (DPR) is presently 3.02%.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Textron by 1.0% in the second quarter. Vanguard Group Inc. now owns 22,450,350 shares of the company’s stock worth $820,785,000 after buying an additional 228,678 shares during the period. Capital Research Global Investors boosted its stake in shares of Textron by 131.4% in the second quarter. Capital Research Global Investors now owns 12,369,176 shares of the company’s stock worth $452,217,000 after buying an additional 7,024,376 shares during the last quarter. 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 last quarter. Boston Partners boosted its stake in shares of Textron by 3.1% in the second quarter. Boston Partners now owns 8,455,289 shares of the company’s stock worth $309,126,000 after buying an additional 250,289 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Textron by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,242,145 shares of the company’s stock worth $264,049,000 after buying an additional 312,668 shares during the last quarter. Institutional investors own 80.63% 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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
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