Textron Inc. (TXT) Short Interest Up 108.7% in October
Textron Inc. (NYSE:TXT) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 7,174,974 shares, a growth of 108.7% from the October 13th total of 3,438,341 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average trading volume of 1,963,188 shares, the short-interest ratio is presently 3.7 days.
Textron (TXT) opened at $53.57 on Wednesday. The stock has a market capitalization of $14,295.83, a P/E ratio of 21.62, a P/E/G ratio of 2.49 and a beta of 1.58. The company has a current ratio of 2.08, a quick ratio of 0.96 and a debt-to-equity ratio of 0.67. Textron has a 1 year low of $43.66 and a 1 year high of $55.80.
Textron (NYSE:TXT) last announced its earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. Textron’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. research analysts forecast that Textron will post 2.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. Textron’s payout ratio is 3.45%.
TXT has been the subject of a number of research reports. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Textron in a research note on Tuesday, September 26th. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Thursday, September 21st. Drexel Hamilton raised Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Monday, September 11th. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Finally, Cowen and Company reissued a “buy” rating and issued a $60.00 price objective on shares of Textron in a research note on Thursday, October 19th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Textron has an average rating of “Hold” and an average price target of $56.92.
Large investors have recently made changes to their positions in the stock. Invictus RG purchased a new position in shares of Textron during the third quarter valued at approximately $115,000. Bessemer Group Inc. boosted its position in shares of Textron by 66.7% during the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after buying an additional 1,043 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Textron by 16.5% during the second quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after buying an additional 433 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Textron by 0.8% during the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after buying an additional 26 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Textron in the third quarter worth $201,000. 81.49% of the stock is currently owned by institutional investors.
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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