Textron Inc. (NYSE:TXT) – Stock analysts at Jefferies Group raised their Q4 2016 earnings per share (EPS) estimates for Textron in a research note issued to investors on Wednesday. Jefferies Group analyst H. Rubel now anticipates that the brokerage will post earnings of $0.78 per share for the quarter, up from their prior estimate of $0.75. Jefferies Group currently has a “Buy” rating and a $50.00 price target on the stock.
Textron (NYSE:TXT) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. Textron had a net margin of 5.28% and a return on equity of 14.72%. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis.
A number of other brokerages also recently commented on TXT. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Textron in a research report on Wednesday, August 31st. Drexel Hamilton reaffirmed a “hold” rating on shares of Textron in a research report on Wednesday, August 31st. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Bank of America Corp. set a $45.00 price objective on shares of Textron and gave the company a “buy” rating in a research report on Monday, July 25th. Finally, Robert W. Baird assumed coverage on shares of Textron in a research report on Wednesday. They set an “outperform” rating and a $48.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Textron has a consensus rating of “Buy” and a consensus price target of $46.74.
Shares of Textron (NYSE:TXT) opened at 38.49 on Friday. The stock has a market cap of $10.37 billion, a P/E ratio of 14.52 and a beta of 1.65. The company’s 50-day moving average is $40.05 and its 200 day moving average is $38.63. Textron has a 1-year low of $30.69 and a 1-year high of $43.93.
Several hedge funds have recently modified their holdings of TXT. Glenmede Trust Co. NA boosted its stake in shares of Textron by 1.8% in the first quarter. Glenmede Trust Co. NA now owns 14,632 shares of the company’s stock worth $532,000 after buying an additional 255 shares during the last quarter. Commonwealth Equity Services Inc boosted its stake in shares of Textron by 5.8% in the first quarter. Commonwealth Equity Services Inc now owns 26,682 shares of the company’s stock worth $973,000 after buying an additional 1,459 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Textron by 245.7% in the first quarter. IFP Advisors Inc now owns 5,082 shares of the company’s stock worth $185,000 after buying an additional 3,612 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Textron by 59.9% in the first quarter. Prudential Financial Inc. now owns 544,252 shares of the company’s stock worth $19,843,000 after buying an additional 203,900 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Textron by 3.2% in the first quarter. BlackRock Group LTD now owns 1,649,411 shares of the company’s stock worth $60,138,000 after buying an additional 51,476 shares during the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Wednesday, September 7th. Textron’s payout ratio is 3.02%.
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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
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