Textron Inc. (TXT) Research Coverage Started at Robert W. Baird
A number of other research analysts have also recently issued reports on TXT. Morgan Stanley started coverage on 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 research note on Saturday, July 9th. Zacks Investment Research lowered Textron from a hold rating to a sell rating in a research note on Tuesday, July 19th. Bank of America Corp. set a $45.00 target price on Textron and gave the company a buy rating in a research note on Monday, July 25th. Finally, Drexel Hamilton restated a hold rating on shares of Textron in a research note on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $46.74.
Shares of Textron (NYSE:TXT) opened at 38.49 on Wednesday. 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. The stock has a market capitalization 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 data on Friday, July 22nd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.02. The company earned $3.50 billion during 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 business’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. On average, analysts predict that Textron will post $2.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. Textron’s payout ratio is currently 3.02%.
Several institutional investors have recently bought and sold shares of TXT. Vanguard Group Inc. raised its position in Textron by 1.0% in the second quarter. Vanguard Group Inc. now owns 22,450,350 shares of the company’s stock valued at $820,785,000 after buying an additional 228,678 shares during the last quarter. Capital Research Global Investors boosted its position in Textron by 131.4% in the second quarter. Capital Research Global Investors now owns 12,369,176 shares of the company’s stock valued at $452,217,000 after buying an additional 7,024,376 shares during the period. State Street Corp boosted its position in Textron by 1.4% in the first quarter. State Street Corp now owns 10,135,736 shares of the company’s stock valued at $369,558,000 after buying an additional 143,285 shares during the period. Boston Partners boosted its position in Textron by 3.1% in the second quarter. Boston Partners now owns 8,455,289 shares of the company’s stock valued at $309,126,000 after buying an additional 250,289 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in 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 valued at $264,049,000 after buying an additional 312,668 shares during the period. 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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