Analysts forecast that Textron Inc. (NYSE:TXT) will announce earnings per share (EPS) of $0.62 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Textron’s earnings, with estimates ranging from $0.58 to $0.66. Textron reported earnings of $0.61 per share in the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The business is expected to issue its next quarterly earnings report on Thursday, October 19th.

According to Zacks, analysts expect that Textron will report full year earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.55. For the next financial year, analysts anticipate that the firm will post earnings of $2.93 per share, with EPS estimates ranging from $2.80 to $3.15. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Textron.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. Textron’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share.

A number of brokerages recently commented on TXT. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $54.00 target price (up from $52.00) on shares of Textron in a report on Saturday, July 22nd. Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Textron in a report on Saturday, April 22nd. Finally, Stephens began coverage on Textron in a report on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 target price on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $53.60.

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Large investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Textron by 5.2% in the fourth quarter. Macquarie Group Ltd. now owns 10,200 shares of the aerospace company’s stock worth $496,000 after buying an additional 500 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Textron by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 232,830 shares of the aerospace company’s stock worth $11,081,000 after buying an additional 7,043 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Textron by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 81,184 shares of the aerospace company’s stock worth $3,863,000 after buying an additional 800 shares during the last quarter. Bank of Montreal Can raised its position in shares of Textron by 0.5% in the first quarter. Bank of Montreal Can now owns 132,775 shares of the aerospace company’s stock worth $6,317,000 after buying an additional 644 shares during the last quarter. Finally, Regentatlantic Capital LLC raised its position in shares of Textron by 3.4% in the first quarter. Regentatlantic Capital LLC now owns 85,425 shares of the aerospace company’s stock worth $4,065,000 after buying an additional 2,805 shares during the last quarter. Institutional investors and hedge funds own 83.55% of the company’s stock.

Shares of Textron (NYSE TXT) traded down 1.81% during mid-day trading on Thursday, reaching $48.24. The company had a trading volume of 1,172,572 shares. The company has a 50 day moving average price of $48.28 and a 200 day moving average price of $47.69. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of 14.75 and a beta of 1.56. Textron has a one year low of $37.19 and a one year high of $50.93.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. Textron’s payout ratio is presently 2.45%.

About Textron

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. The Textron Aviation segment is engaged in general aviation.

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Earnings History and Estimates for Textron (NYSE:TXT)

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