Textron Inc. (TXT) Sees Large Volume Increase
Textron Inc. (NYSE:TXT) shares saw an uptick in trading volume on Wednesday . 1,725,489 shares traded hands during trading, an increase of 80% from the previous session’s volume of 958,711 shares.The stock last traded at $40.96 and had previously closed at $41.00.
A number of brokerages have recently commented on TXT. Credit Suisse Group AG reiterated a “buy” rating on shares of Textron in a research report on Saturday, July 9th. Zacks Investment Research upgraded Textron from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Bank of America Corp. set a $45.00 target price on Textron and gave the company a “buy” rating in a report on Monday, July 25th. Finally, Morgan Stanley restated a “sell” rating on shares of Textron in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.07.
The company has a 50-day moving average of $39.08 and a 200-day moving average of $37.24. The firm has a market cap of $11.05 billion and a PE ratio of 15.47.
Textron (NYSE:TXT) last issued its quarterly earnings data 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. The company earned $3.50 billion during the quarter, compared to the consensus estimate of $3.36 billion. Textron’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. On average, analysts anticipate that Textron Inc. will post $2.70 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Wednesday, September 7th.
Several institutional investors have added to or reduced their stakes in TXT. Marshall Wace LLP acquired a new position in Textron during the fourth quarter valued at about $1,189,000. Mutual of America Capital Management LLC increased its position 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 last quarter. Trexquant Investment LP increased its position in Textron by 38.1% in the fourth quarter. Trexquant Investment LP now owns 43,353 shares of the company’s stock valued at $1,821,000 after buying an additional 11,953 shares during the last quarter. American International Group Inc. increased its position in Textron by 0.3% in the fourth quarter. American International Group Inc. now owns 104,797 shares of the company’s stock valued at $4,403,000 after buying an additional 347 shares during the last quarter. Finally, BlackRock Advisors LLC increased its position in Textron by 859.1% in the fourth quarter. BlackRock Advisors LLC now owns 631,190 shares of the company’s stock valued at $26,517,000 after buying an additional 565,377 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.