Jefferies Group LLC Reiterates Buy Rating for Textron Inc. (TXT)
Textron Inc. (NYSE:TXT)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a report issued on Friday. They presently have a $65.00 price target on the aerospace company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 20.95% from the stock’s previous close. Jefferies Group also issued estimates for Textron’s Q4 2017 earnings at $0.72 EPS, FY2018 earnings at $2.80 EPS, FY2019 earnings at $3.10 EPS and FY2020 earnings at $3.30 EPS.
Other research analysts have also issued reports about the stock. Citigroup Inc. raised their price target on shares of Textron from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Textron from $54.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday. Credit Suisse Group decreased their price target on shares of Textron from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday. BidaskClub lowered shares of Textron from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $60.00 price target on shares of Textron in a research note on Thursday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.08.
Shares of Textron (NYSE:TXT) traded up 1.21% during midday trading on Friday, hitting $53.74. The stock had a trading volume of 3,015,183 shares. The stock has a market cap of $14.23 billion, a PE ratio of 16.43 and a beta of 1.59. The firm has a 50 day moving average price of $52.82 and a 200-day moving average price of $48.99. Textron has a 52-week low of $38.79 and a 52-week high of $55.80.
Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. Textron’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS. Equities analysts predict that Textron will post $2.51 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its holdings in Textron by 66.7% in the 2nd quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after acquiring an additional 1,043 shares during the last quarter. Global X Management Co. LLC raised its holdings in Textron by 30.2% in the 1st quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock valued at $125,000 after acquiring an additional 607 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Textron by 0.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 26 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in Textron in the 1st quarter valued at about $210,000. Finally, Canandaigua National Bank & Trust Co. raised its holdings in Textron by 1.6% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock valued at $227,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.
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. The Textron Aviation segment is engaged in general aviation.
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