Jefferies Financial Group set a $59.00 price target on Textron (NYSE:TXT) in a research report report published on Tuesday. The firm currently has a buy rating on the aerospace company’s stock. Jefferies Financial Group also issued estimates for Textron’s FY2021 earnings at $3.95 EPS.
A number of other research firms have also recently weighed in on TXT. Zacks Investment Research cut shares of Textron from a buy rating to a hold rating in a report on Tuesday, September 18th. Morgan Stanley set a $71.00 price target on shares of Textron and gave the company a hold rating in a report on Thursday, October 11th. Wells Fargo & Co lowered their price target on shares of Textron from $72.00 to $70.00 and set an outperform rating on the stock in a report on Friday, October 19th. ValuEngine cut shares of Textron from a buy rating to a hold rating in a report on Thursday, October 18th. Finally, Cowen restated a buy rating and issued a $70.00 price target on shares of Textron in a report on Monday, December 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Textron currently has a consensus rating of Hold and a consensus price target of $70.00.
Shares of Textron stock opened at $48.01 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70. Textron has a 1 year low of $43.27 and a 1 year high of $72.87. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 1.09 and a beta of 1.65.
Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Textron will post 3.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Investors of record on Friday, December 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, December 13th. Textron’s payout ratio is currently 3.27%.
Several institutional investors have recently made changes to their positions in TXT. Centaurus Financial Inc. purchased a new position in shares of Textron in the 2nd quarter valued at approximately $105,000. BlueMountain Capital Management LLC purchased a new position in shares of Textron in the 2nd quarter valued at approximately $139,000. First Hawaiian Bank purchased a new position in shares of Textron in the 3rd quarter valued at approximately $140,000. Belpointe Asset Management LLC purchased a new position in shares of Textron in the 3rd quarter valued at approximately $143,000. Finally, Willingdon Wealth Management purchased a new position in shares of Textron in the 3rd quarter valued at approximately $157,000. 83.69% of the stock is owned by hedge funds and other institutional investors.
Textron Company Profile
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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