Textron (NYSE:TXT) – Investment analysts at Jefferies Group reduced their Q3 2018 EPS estimates for Textron in a research report issued to clients and investors on Wednesday, April 18th, Zacks Investment Research reports. Jefferies Group analyst S. Kahyaoglu now forecasts that the aerospace company will earn $0.76 per share for the quarter, down from their previous forecast of $0.78. Jefferies Group currently has a “Buy” rating and a $74.00 price objective on the stock. Jefferies Group also issued estimates for Textron’s Q4 2018 earnings at $0.91 EPS.
Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, April 18th. The aerospace company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.26. Textron had a return on equity of 12.65% and a net margin of 2.74%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the company earned $0.46 EPS. Textron’s revenue for the quarter was up 6.6% compared to the same quarter last year.
Several other equities research analysts have also recently weighed in on TXT. ValuEngine upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 19th. Robert W. Baird increased their price objective on Textron from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 19th. Barclays increased their price objective on Textron from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, April 19th. Stephens set a $66.00 price objective on Textron and gave the stock a “hold” rating in a report on Monday, April 16th. Finally, Bank of America upgraded Textron from an “underperform” rating to a “buy” rating and raised their target price for the company from $57.00 to $75.00 in a research note on Thursday, April 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $67.17.
Textron traded up $0.26, hitting $65.65, on Monday, according to Marketbeat. The company’s stock had a trading volume of 1,233,311 shares, compared to its average volume of 1,758,749. Textron has a 52-week low of $65.37 and a 52-week high of $65.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 2.31. The stock has a market cap of $16.78 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 1.83 and a beta of 1.39.
The company also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Stockholders of record on Friday, June 15th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Thursday, June 14th. Textron’s payout ratio is presently 3.27%.
In other Textron news, CEO Scott C. Donnelly sold 11,988 shares of Textron stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $61.60, for a total transaction of $738,460.80. Following the completion of the transaction, the chief executive officer now owns 715,106 shares in the company, valued at $44,050,529.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott C. Donnelly sold 158,237 shares of Textron stock in a transaction on Friday, April 27th. The shares were sold at an average price of $63.05, for a total value of $9,976,842.85. Following the transaction, the chief executive officer now owns 715,106 shares of the company’s stock, valued at approximately $45,087,433.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,225 shares of company stock valued at $15,754,504. 1.20% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Private Capital Group LLC raised its stake in Textron by 50,041.7% during the first quarter. Private Capital Group LLC now owns 6,017 shares of the aerospace company’s stock valued at $355,000 after buying an additional 6,005 shares during the last quarter. Millennium Management LLC raised its stake in Textron by 16.3% during the first quarter. Millennium Management LLC now owns 1,068,792 shares of the aerospace company’s stock valued at $63,027,000 after buying an additional 149,673 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Textron by 0.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 329,594 shares of the aerospace company’s stock valued at $19,436,000 after buying an additional 2,719 shares during the last quarter. LPL Financial LLC raised its stake in Textron by 24.4% during the first quarter. LPL Financial LLC now owns 31,439 shares of the aerospace company’s stock valued at $1,854,000 after buying an additional 6,175 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Textron by 84.1% in the 1st quarter. Jane Street Group LLC now owns 69,210 shares of the aerospace company’s stock worth $4,081,000 after purchasing an additional 31,607 shares in the last quarter. Institutional investors and hedge funds own 84.45% of the company’s stock.
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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