Textron Inc. (TXT) Given Average Recommendation of “Hold” by Analysts
Textron Inc. (NYSE:TXT) has received a consensus rating of “Hold” from the fourteen research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $56.73.
TXT has been the topic of several research reports. Drexel Hamilton upgraded Textron from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, September 11th. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Zacks Investment Research lowered Textron from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Credit Suisse Group lowered their price target on Textron from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Friday, October 20th. Finally, Wells Fargo & Company boosted their price target on Textron from $54.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th.
Several hedge funds have recently bought and sold shares of TXT. Neuberger Berman Group LLC increased its holdings in shares of Textron by 28.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock worth $203,650,000 after acquiring an additional 957,464 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Textron by 27.3% in the 2nd quarter. Victory Capital Management Inc. now owns 3,727,749 shares of the aerospace company’s stock valued at $175,577,000 after buying an additional 799,779 shares in the last quarter. BlackRock Inc. grew its holdings in Textron by 3.8% in the 2nd quarter. BlackRock Inc. now owns 17,799,799 shares of the aerospace company’s stock valued at $838,370,000 after buying an additional 655,034 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its holdings in Textron by 1,002.8% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 512,913 shares of the aerospace company’s stock valued at $27,634,000 after buying an additional 466,402 shares in the last quarter. Finally, Impala Asset Management LLC acquired a new position in Textron in the 3rd quarter valued at $21,215,000. 81.83% of the stock is currently owned by institutional investors and hedge funds.
Textron (NYSE TXT) traded up $0.07 during midday trading on Monday, reaching $52.97. The company’s stock had a trading volume of 1,467,900 shares, compared to its average volume of 1,562,360. The company has a market cap of $13,950.00, a PE ratio of 21.10, a price-to-earnings-growth ratio of 2.43 and a beta of 1.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.08 and a quick ratio of 0.96. Textron has a 12-month low of $43.66 and a 12-month high of $55.80.
Textron (NYSE:TXT) last released its earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. sell-side analysts forecast that Textron will post 2.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, December 14th. Textron’s payout ratio is presently 3.45%.
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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. The Textron Aviation segment is engaged in general aviation.
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