Textron Inc. (NYSE:TXT) – Equities researchers at Jefferies Group lowered their Q1 2018 earnings per share estimates for shares of Textron in a research report issued on Friday, Zacks Investment Research reports. Jefferies Group analyst S. Kahyaoglu now expects that the aerospace company will post earnings per share of $0.46 for the quarter, down from their previous estimate of $0.54. Jefferies Group currently has a “Buy” rating and a $74.00 target price on the stock. Jefferies Group also issued estimates for Textron’s Q3 2018 earnings at $0.78 EPS and Q4 2018 earnings at $1.07 EPS.
Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 31st. The aerospace company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Textron had a return on equity of 11.58% and a net margin of 2.16%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share.
Several other equities analysts have also weighed in on TXT. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Cowen reaffirmed a “buy” rating and set a $70.00 target price on shares of Textron in a report on Monday, January 8th. Morgan Stanley raised shares of Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 target price for the company in a report on Thursday, February 1st. Wells Fargo & Co reaffirmed an “outperform” rating and set a $67.00 target price (up from $59.00) on shares of Textron in a report on Tuesday, January 16th. Finally, Stephens set a $65.00 target price on shares of Textron and gave the company a “hold” rating in a report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Textron has an average rating of “Hold” and a consensus price target of $60.50.
Textron (NYSE:TXT) traded up $0.19 during trading hours on Monday, hitting $59.09. 2,913,683 shares of the stock traded hands, compared to its average volume of 1,820,000. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 2.19. The stock has a market cap of $15,470.00, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.85 and a beta of 1.37. Textron has a 52-week low of $45.00 and a 52-week high of $62.19.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. Textron’s dividend payout ratio is currently 3.74%.
A number of institutional investors have recently added to or reduced their stakes in TXT. Deutsche Bank AG grew its stake in Textron by 219.4% in the 4th quarter. Deutsche Bank AG now owns 1,763,920 shares of the aerospace company’s stock valued at $99,817,000 after acquiring an additional 1,211,697 shares during the period. Renaissance Technologies LLC grew its stake in Textron by 303.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,243,400 shares of the aerospace company’s stock valued at $70,364,000 after acquiring an additional 935,100 shares during the period. Eaton Vance Management grew its stake in Textron by 89.9% in the 4th quarter. Eaton Vance Management now owns 1,573,669 shares of the aerospace company’s stock valued at $89,054,000 after acquiring an additional 745,201 shares during the period. Neuberger Berman Group LLC grew its stake in Textron by 13.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 4,886,812 shares of the aerospace company’s stock valued at $263,302,000 after acquiring an additional 563,037 shares during the period. Finally, BlackRock Inc. grew its stake in Textron by 3.0% in the 4th quarter. BlackRock Inc. now owns 18,851,900 shares of the aerospace company’s stock valued at $1,066,828,000 after acquiring an additional 554,173 shares during the period. 83.27% of the stock is currently owned by hedge funds and other institutional investors.
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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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