Recent Research Analysts’ Ratings Updates for Textron (TXT)
Several brokerages have updated their recommendations and price targets on shares of Textron (NYSE: TXT) in the last few weeks:
- 9/2/2016 – Textron was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Textron expects to witness flattish growth at Bell Helicopter. Soft V-22 Osprey shipments and weakness in the global commercial helicopter market will affect segment revenues in 2016. Global political uncertainties may affect future defense budgets, which in turn has an impact on the fortunes of the company. Intensifying competition for the company's products is an added concern. Reflecting investor sentiments, estimates have been moving downward in the last 30 days. On the positive side, Textron's systematic inorganic growth strategy, along with its focus on strengthening international presence, will improve the growth trajectory. The 2016 outlook reflects the success of its strategy of investing in new product development and acquisitions.”
- 8/31/2016 – Textron had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG.
- 8/31/2016 – Textron had its “hold” rating reaffirmed by analysts at Drexel Hamilton.
- 8/31/2016 – Textron had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $50.00 price target on the stock.
- 8/15/2016 – Textron had its “sell” rating reaffirmed by analysts at Morgan Stanley.
- 7/26/2016 – Textron had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $45.00 price target on the stock.
- 7/26/2016 – Textron was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Textron reported impressive second-quarter results, wherein both earnings and revenues beat the Zacks Consensus Estimate by a respective 4.8% and 5.4%. The top and bottom line also recorded year-over-year growth of 10% and 8.1%, respectively. The upside was primarily on account of higher contribution from the Textron Aviation, Textron Systems and Industrial segments. Moreover, the company’s 2016 outlook reflects the success of its strategy of investing in new product development and acquisitions. On the flip side, Textron’s Bell Helicopter witnessed a drop in revenues as well as profit. Soft V-22 Osprey shipments and weakness in the global commercial helicopter market will affect segment revenues in 2016. Global political uncertainties and intensifying competition are added concerns.”
- 7/25/2016 – Textron was given a new $45.00 price target on by analysts at Bank of America Corp.. They now have a “buy” rating on the stock.
Textron Inc. (NYSE:TXT) traded up 0.95% on Wednesday, reaching $39.28. 852,756 shares of the company’s stock were exchanged. The company has a market capitalization of $10.58 billion, a P/E ratio of 14.82 and a beta of 1.44. The firm has a 50-day moving average price of $40.00 and a 200-day moving average price of $38.18. Textron Inc. has a 1-year low of $30.69 and a 1-year high of $43.93.
Textron (NYSE:TXT) last posted its earnings results on Friday, July 22nd. The company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.02. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.36 billion. Textron had a net margin of 5.28% and a return on equity of 14.72%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. Equities research analysts expect that Textron Inc. will post $2.72 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Wednesday, September 7th. Textron’s dividend payout ratio (DPR) 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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