Textron (TXT) Earns Outperform Rating from Wells Fargo & Co
Wells Fargo & Co reaffirmed their outperform rating on shares of Textron (NYSE:TXT) in a report issued on Tuesday morning, The Fly reports. Wells Fargo & Co currently has a $67.00 target price on the aerospace company’s stock, up from their previous target price of $59.00.
TXT has been the subject of several other research reports. Zacks Investment Research lowered shares of Textron from a hold rating to a sell rating in a report on Tuesday, November 7th. Jefferies Group reiterated a buy rating and issued a $60.00 price objective on shares of Textron in a research note on Tuesday, September 26th. Stephens set a $65.00 price objective on shares of Textron and gave the company a hold rating in a research note on Thursday, January 11th. Credit Suisse Group lowered their price objective on shares of Textron from $61.00 to $59.00 and set an outperform rating for the company in a research note on Friday, October 20th. Finally, Citigroup lifted their price objective on shares of Textron from $54.00 to $61.00 and gave the company a buy rating in a research note on Friday, October 20th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Textron presently has an average rating of Hold and a consensus target price of $59.64.
Textron (NYSE TXT) traded up $0.09 during trading on Tuesday, reaching $58.90. 1,193,257 shares of the company’s stock traded hands, compared to its average volume of 1,190,054. 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 52-week low of $43.66 and a 52-week high of $60.54. The company has a market cap of $15,530.00, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.57.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. Textron’s dividend payout ratio is currently 3.45%.
Large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in Textron during the 3rd quarter valued at $110,000. Invictus RG bought a new stake in Textron during the 3rd quarter valued at $115,000. Commerzbank Aktiengesellschaft FI bought a new stake in Textron during the 3rd quarter valued at $201,000. BB&T Securities LLC bought a new stake in Textron during the 3rd quarter valued at $203,000. Finally, Franklin Street Advisors Inc. NC bought a new stake in Textron during the 4th quarter valued at $207,000. Institutional investors own 81.91% of the company’s stock.
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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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