Somewhat Favorable News Coverage Somewhat Unlikely to Impact Textron (TXT) Share Price

Media headlines about Textron (NYSE:TXT) have been trending somewhat positive on Monday, according to Accern Sentiment Analysis. The research firm rates the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Textron earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned press coverage about the aerospace company an impact score of 46.3933981999369 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

Here are some of the media headlines that may have effected Accern Sentiment Analysis’s analysis:

Shares of Textron (NYSE TXT) traded down 0.34% on Monday, reaching $47.53. 1,021,145 shares of the company’s stock traded hands. Textron has a 52-week low of $37.19 and a 52-week high of $50.93. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 14.53 and a beta of 1.56. The firm’s 50-day moving average is $48.77 and its 200-day moving average is $47.72.

Textron (NYSE:TXT) last released its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Textron will post $2.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.17%. Textron’s dividend payout ratio is currently 2.45%.

A number of brokerages have weighed in on TXT. BidaskClub cut shares of Textron from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price objective on shares of Textron in a research report on Thursday, May 18th. Bank of America Corporation cut shares of Textron from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $53.00 to $45.00 in a research report on Friday, July 21st. Credit Suisse Group reissued a “buy” rating and set a $50.00 price objective on shares of Textron in a research report on Wednesday, May 24th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $54.00 price objective (up previously from $52.00) on shares of Textron in a research report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Textron presently has a consensus rating of “Hold” and a consensus price target of $53.00.

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About Textron

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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