Jefferies Group LLC restated their buy rating on shares of Textron Inc. (NYSE:TXT) in a report issued on Thursday morning. Jefferies Group LLC currently has a $60.00 target price on the aerospace company’s stock.
TXT has been the subject of several other research reports. Robert W. Baird reaffirmed an outperform rating and set a $60.00 price target on shares of Textron in a research note on Friday, January 20th. Credit Suisse Group AG reissued a buy rating and issued a $50.00 price objective on shares of Textron in a research note on Tuesday, April 11th. Stephens began coverage on shares of Textron in a research note on Thursday, April 13th. They issued an equal weight rating and a $54.00 price objective for the company. Zacks Investment Research downgraded shares of Textron from a hold rating to a strong sell rating in a research note on Monday, January 30th. Finally, Cowen and Company reissued an outperform rating and issued a $60.00 price objective on shares of Textron in a research note on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $51.22.
Textron (NYSE:TXT) traded up 1.24% during trading on Thursday, hitting $46.70. The stock had a trading volume of 900,144 shares. Textron has a 52-week low of $34.00 and a 52-week high of $50.93. The firm has a market cap of $12.50 billion, a PE ratio of 13.92 and a beta of 1.61. The company’s 50 day moving average is $47.02 and its 200 day moving average is $47.17.
Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, April 19th. The aerospace company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. Textron had a net margin of 6.98% and a return on equity of 13.36%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. Equities research analysts forecast that Textron will post $2.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Wednesday, June 7th. Textron’s payout ratio is presently 2.27%.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Textron by 3.4% in the first quarter. Vanguard Group Inc. now owns 24,537,994 shares of the aerospace company’s stock worth $1,167,763,000 after buying an additional 812,940 shares during the last quarter. Capital Research Global Investors increased its position in shares of Textron by 41.2% in the third quarter. Capital Research Global Investors now owns 17,469,176 shares of the aerospace company’s stock worth $694,400,000 after buying an additional 5,100,000 shares during the last quarter. BlackRock Inc. increased its position in shares of Textron by 3,689.9% in the first quarter. BlackRock Inc. now owns 17,144,765 shares of the aerospace company’s stock worth $815,921,000 after buying an additional 16,692,390 shares during the last quarter. State Street Corp increased its position in shares of Textron by 3.3% in the first quarter. State Street Corp now owns 11,562,285 shares of the aerospace company’s stock worth $550,256,000 after buying an additional 370,189 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Textron by 8.7% in the first quarter. American Century Companies Inc. now owns 5,204,734 shares of the aerospace company’s stock worth $247,693,000 after buying an additional 415,861 shares during the last quarter. 81.19% of the stock is currently owned by institutional investors and hedge funds.
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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