Textron (NYSE:TXT) had its price target decreased by Credit Suisse Group from $52.00 to $50.00 in a research note released on Friday morning, BenzingaRatingsTable reports. Credit Suisse Group currently has a neutral rating on the aerospace company’s stock.
A number of other research firms also recently weighed in on TXT. Morgan Stanley raised their price target on Textron from $49.00 to $51.00 and gave the stock an equal weight rating in a research note on Thursday, October 10th. Vertical Research downgraded Textron from a buy rating to a hold rating and cut their price target for the stock from $56.00 to $54.00 in a research note on Friday, September 27th. Cowen reaffirmed a buy rating and set a $60.00 price target on shares of Textron in a research note on Thursday. Finally, ValuEngine raised Textron from a sell rating to a hold rating in a research note on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Textron has a consensus rating of Hold and a consensus price target of $55.25.
TXT opened at $46.01 on Friday. Textron has a fifty-two week low of $42.30 and a fifty-two week high of $58.50. The business has a 50-day moving average of $48.50 and a 200-day moving average of $49.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.92 and a quick ratio of 0.97. The company has a market capitalization of $10.99 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.77.
Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 17th. The aerospace company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.10. Textron had a return on equity of 16.88% and a net margin of 6.46%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the business earned $0.61 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts expect that Textron will post 3.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Thursday, September 12th. Textron’s payout ratio is 2.40%.
Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in shares of Textron by 44.5% in the 2nd quarter. Janus Henderson Group PLC now owns 545,839 shares of the aerospace company’s stock valued at $28,950,000 after acquiring an additional 168,171 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Textron by 3.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,560,352 shares of the aerospace company’s stock valued at $135,801,000 after acquiring an additional 92,426 shares in the last quarter. Oakbrook Investments LLC bought a new position in shares of Textron in the 2nd quarter valued at approximately $615,000. Carroll Financial Associates Inc. bought a new position in shares of Textron in the 2nd quarter valued at approximately $196,000. Finally, Aviva PLC raised its stake in shares of Textron by 8.8% in the 2nd quarter. Aviva PLC now owns 5,300 shares of the aerospace company’s stock valued at $281,000 after acquiring an additional 430 shares in the last quarter. 82.66% of the stock is currently owned by institutional investors and hedge funds.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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