Textron Inc. (NYSE:TXT) – Jefferies Financial Group increased their Q2 2021 earnings estimates for shares of Textron in a report released on Sunday, May 2nd. Jefferies Financial Group analyst S. Kahyaoglu now expects that the aerospace company will post earnings of $0.60 per share for the quarter, up from their previous estimate of $0.55. Jefferies Financial Group currently has a “Buy” rating and a $75.00 price target on the stock.
Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 29th. The aerospace company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.47 by $0.23. Textron had a net margin of 2.26% and a return on equity of 8.69%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. Textron’s revenue for the quarter was up 3.7% on a year-over-year basis.
Shares of TXT opened at $65.50 on Tuesday. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 55.04, a price-to-earnings-growth ratio of 6.44 and a beta of 1.77. Textron has a fifty-two week low of $21.92 and a fifty-two week high of $65.86. The firm has a 50-day simple moving average of $57.84 and a 200-day simple moving average of $49.31. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.27 and a current ratio of 2.33.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 11th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, June 10th. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron’s payout ratio is currently 2.14%.
In related news, VP Mark S. Bamford sold 3,300 shares of the company’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $51.75, for a total value of $170,775.00. Also, Director Kathleen M. Bader sold 10,775 shares of the business’s stock in a transaction on Friday, April 30th. The stock was sold at an average price of $64.00, for a total value of $689,600.00. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC raised its position in shares of Textron by 15.5% in the fourth quarter. Pzena Investment Management LLC now owns 7,811,119 shares of the aerospace company’s stock valued at $377,511,000 after buying an additional 1,049,146 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Textron by 11.8% in the 1st quarter. Victory Capital Management Inc. now owns 7,555,085 shares of the aerospace company’s stock valued at $423,689,000 after acquiring an additional 794,825 shares during the last quarter. U S Global Investors Inc. lifted its stake in shares of Textron by 36.2% during the 4th quarter. U S Global Investors Inc. now owns 1,887,125 shares of the aerospace company’s stock worth $91,205,000 after purchasing an additional 501,537 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Textron by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,620,261 shares of the aerospace company’s stock worth $78,308,000 after purchasing an additional 23,483 shares during the last quarter. Finally, Rothschild & Co. Asset Management US Inc. grew its position in shares of Textron by 103.2% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 1,141,388 shares of the aerospace company’s stock valued at $55,163,000 after purchasing an additional 579,819 shares during the period. Institutional investors own 85.57% of the company’s stock.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as offers maintenance, inspection, and repair services.
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