Cowen and Company restated their buy rating on shares of Textron Inc. (NYSE:TXT) in a research note published on Tuesday morning. They currently have a $60.00 price objective on the aerospace company’s stock.
Other analysts have also recently issued research reports about the stock. Jefferies Group LLC restated a buy rating and set a $60.00 price target on shares of Textron in a research report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Textron from a hold rating to a buy rating and set a $59.00 price target on the stock in a research report on Thursday, September 21st. Drexel Hamilton upgraded shares of Textron from a hold rating to a buy rating and set a $58.00 price target on the stock in a research report on Monday, September 11th. ValuEngine upgraded shares of Textron from a hold rating to a buy rating in a research report on Friday, September 8th. Finally, Citigroup Inc. boosted their price target on shares of Textron from $54.00 to $61.00 and gave the stock a buy rating in a research report on Friday, October 20th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $56.92.
Textron (NYSE:TXT) opened at $52.97 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 0.96 and a debt-to-equity ratio of 0.67. Textron has a fifty-two week low of $43.66 and a fifty-two week high of $55.80. The stock has a market cap of $13,930.00, a price-to-earnings ratio of 21.34, a P/E/G ratio of 2.46 and a beta of 1.57.
Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Textron had a net margin of 4.48% and a return on equity of 12.02%. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. analysts forecast that Textron will post 2.47 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s dividend payout ratio (DPR) is 3.45%.
Large investors have recently made changes to their positions in the business. Invictus RG purchased a new stake in shares of Textron in the 3rd quarter valued at approximately $115,000. Bessemer Group Inc. increased its position in shares of Textron by 66.7% in the 2nd quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after purchasing an additional 1,043 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Textron by 16.5% in the 2nd quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after purchasing an additional 433 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Textron by 0.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 26 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Textron in the 3rd quarter valued at $201,000. 81.49% of the stock is currently owned by institutional investors.
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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