Latest Stocks: Brokerages Set Textron Inc. (TXT) Price Target at $52.75

Latest Stocks: Brokerages Set Textron Inc. (TXT) Price Target at $52.75

Textron Inc. (NYSE:TXT) has received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $52.75.

A number of equities research analysts have recently weighed in on TXT shares. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price objective on shares of Textron in a report on Tuesday, March 21st. Cowen and Company reissued an “outperform” rating and set a $60.00 price objective on shares of Textron in a report on Saturday, April 22nd. Stephens started coverage on shares of Textron in a report on Thursday, April 13th. They set an “equal weight” rating and a $54.00 price objective on the stock. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $50.00 price objective on shares of Textron in a report on Wednesday, May 24th.

Several large investors have recently bought and sold shares of TXT. FTB Advisors Inc. raised its stake in Textron by 7.7% in the third quarter. FTB Advisors Inc. now owns 3,050 shares of the aerospace company’s stock valued at $115,000 after buying an additional 218 shares during the last quarter. Global X Management Co. LLC raised its stake in Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock valued at $125,000 after buying an additional 607 shares during the last quarter. Financial Architects Inc purchased a new stake in Textron during the first quarter valued at about $126,000. Advisor Group Inc. raised its stake in Textron by 104.2% in the third quarter. Advisor Group Inc. now owns 4,046 shares of the aerospace company’s stock valued at $161,000 after buying an additional 2,065 shares during the last quarter. Finally, Koch Industries Inc. purchased a new stake in Textron during the first quarter valued at about $203,000. 81.19% of the stock is currently owned by institutional investors and hedge funds. Textron (NYSE:TXT) opened at 47.04 on Tuesday. The stock has a market cap of $12.59 billion, a PE ratio of 14.03 and a beta of 1.61. Textron has a 52-week low of $34.00 and a 52-week high of $50.93. The firm has a 50-day moving average price of $47.05 and a 200 day moving average price of $47.72.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, April 19th. The aerospace company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.16 billion. Textron had a net margin of 6.98% and a return on equity of 13.36%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 earnings per share. On average, analysts forecast that Textron will post $2.53 earnings per share for the current fiscal year. The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 9th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Wednesday, June 7th. Textron’s payout ratio is 2.27%.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, April 19th. The aerospace company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.16 billion. Textron had a net margin of 6.98% and a return on equity of 13.36%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 earnings per share. On average, analysts forecast that Textron will post $2.53 earnings per share for the current fiscal year. Textron Company Profile

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