Textron (NYSE:TXT) issued its quarterly earnings results on Wednesday. The aerospace company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07, RTT News reports. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.43 billion. Textron had a return on equity of 15.55% and a net margin of 9.07%. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 earnings per share. Textron updated its FY 2019 guidance to $3.65-3.85 EPS and its FY19 guidance to $3.65-3.85 EPS.
Shares of NYSE TXT opened at $48.85 on Friday. The stock’s 50 day simple moving average is $50.73. The firm has a market capitalization of $11.38 billion, a P/E ratio of 14.63, a PEG ratio of 1.05 and a beta of 1.76. The company has a current ratio of 1.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. Textron has a twelve month low of $43.27 and a twelve month high of $72.87.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Thursday, June 13th. Textron’s dividend payout ratio (DPR) is presently 2.40%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. lifted its holdings in Textron by 13.3% in the fourth quarter. Bessemer Group Inc. now owns 1,777 shares of the aerospace company’s stock valued at $82,000 after acquiring an additional 209 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Textron by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,565,875 shares of the aerospace company’s stock worth $163,995,000 after purchasing an additional 30,800 shares during the period. Natixis Advisors L.P. grew its stake in shares of Textron by 23.4% during the fourth quarter. Natixis Advisors L.P. now owns 66,893 shares of the aerospace company’s stock worth $3,076,000 after purchasing an additional 12,675 shares during the period. Geode Capital Management LLC grew its stake in shares of Textron by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 3,144,494 shares of the aerospace company’s stock worth $144,357,000 after purchasing an additional 131,360 shares during the period. Finally, Brandywine Global Investment Management LLC grew its stake in shares of Textron by 31,461.0% during the fourth quarter. Brandywine Global Investment Management LLC now owns 44,501 shares of the aerospace company’s stock worth $2,047,000 after purchasing an additional 44,360 shares during the period. 83.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on TXT shares. Credit Suisse Group restated a “buy” rating and issued a $241.00 price target on shares of FedEx in a report on Monday, April 1st. Zacks Investment Research downgraded Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $64.60.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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