Textron’s (TXT) “Maintains” Rating Reaffirmed at Bank of America

Bank of America restated their maintains rating on shares of Textron (NYSE:TXTGet Rating) in a research report released on Friday morning, Benzinga reports.

TXT has been the topic of a number of other research reports. StockNews.com downgraded Textron from a strong-buy rating to a buy rating in a report on Wednesday, June 29th. Cowen set a $86.00 price target on Textron in a report on Tuesday, July 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $85.43.

Textron Stock Up 0.2 %

TXT opened at $65.76 on Friday. The company has a market cap of $14.14 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.30 and a beta of 1.56. The business’s 50-day moving average price is $62.50 and its 200-day moving average price is $67.40. The company has a current ratio of 2.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.52. Textron has a 12 month low of $57.11 and a 12 month high of $79.45.

Textron (NYSE:TXTGet Rating) last released its quarterly earnings data on Thursday, July 28th. The aerospace company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.88 by $0.12. Textron had a return on equity of 12.25% and a net margin of 6.43%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts expect that Textron will post 4.03 EPS for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron’s dividend payout ratio (DPR) is 2.20%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TXT. JPMorgan Chase & Co. boosted its position in shares of Textron by 711.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,427,439 shares of the aerospace company’s stock worth $180,554,000 after purchasing an additional 2,128,278 shares in the last quarter. Aaron Wealth Advisors LLC bought a new stake in shares of Textron in the 1st quarter worth approximately $17,117,000. BlackRock Inc. boosted its position in shares of Textron by 7.2% in the 1st quarter. BlackRock Inc. now owns 16,846,222 shares of the aerospace company’s stock worth $1,253,022,000 after purchasing an additional 1,126,776 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Textron by 100.1% in the 4th quarter. TD Asset Management Inc. now owns 2,054,193 shares of the aerospace company’s stock worth $158,584,000 after purchasing an additional 1,027,375 shares in the last quarter. Finally, Mariner LLC boosted its position in shares of Textron by 2,973.5% in the 1st quarter. Mariner LLC now owns 471,666 shares of the aerospace company’s stock worth $35,083,000 after purchasing an additional 456,320 shares in the last quarter. Hedge funds and other institutional investors own 86.10% of the company’s stock.

Textron Company Profile

(Get Rating)

Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.

Further Reading

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