Textron Inc. (NYSE:TXT) is scheduled to post its Q316 quarterly earnings results on Thursday, October 20th. Analysts expect Textron to post earnings of $0.66 per share and revenue of $3.42 billion for the quarter.
Textron (NYSE:TXT) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.66 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 company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the business posted $0.60 EPS. Textron’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts expect Textron to post $2.73 EPS for the current fiscal year and $2.95 EPS for the next fiscal year.
Textron Inc. (NYSE:TXT) opened at 37.82 on Tuesday. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 14.27 and a beta of 1.65. The stock’s 50 day moving average is $39.57 and its 200 day moving average is $38.72. Textron Inc. has a 52 week low of $30.69 and a 52 week high of $43.93.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Wednesday, September 7th. Textron’s dividend payout ratio is 3.02%.
Several brokerages have recently commented on TXT. Credit Suisse Group AG reiterated a “buy” rating on shares of Textron in a research report on Saturday, July 9th. Drexel Hamilton restated a “hold” rating on shares of Textron in a report on Wednesday, August 31st. Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Jefferies Group set a $50.00 price objective on shares of Textron and gave the company a “buy” rating in a report on Thursday, October 6th. Finally, Robert W. Baird initiated coverage on shares of Textron in a report on Wednesday, October 5th. They set an “outperform” rating and a $48.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $46.74.
Hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in shares of Textron by 9.3% in the second quarter. Pacer Advisors Inc. now owns 5,440 shares of the company’s stock worth $199,000 after buying an additional 464 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Textron during the second quarter worth $205,000. Seven Eight Capital LLC increased its position in shares of Textron by 242.1% in the second quarter. Seven Eight Capital LLC now owns 6,500 shares of the company’s stock worth $238,000 after buying an additional 4,600 shares during the last quarter. Southport Management L.L.C. purchased a new position in shares of Textron during the second quarter worth $274,000. Finally, Gideon Capital Advisors Inc. purchased a new position in shares of Textron during the second quarter worth $283,000. 80.61% of the stock is currently owned by institutional investors and hedge funds.
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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