Textron Inc. (NYSE:TXT) has a beta value of 1.48 and has seen 0.51 million shares traded in the recent trading session. The company, currently valued at $14.22B, closed the recent trade at $70.50 per share which meant it gained $0.9 on the day or 1.29% during that session. The TXT stock price is -7.96% off its 52-week high price of $76.11 and 18.99% above the 52-week low of $57.11. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.5 million shares traded. The 3-month trading volume is 1.35 million shares.
Textron Inc. (NYSE:TXT) trade information
Sporting 1.29% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the TXT stock price touched $70.50 or saw a rise of 1.29%. Year-to-date, Textron Inc. shares have moved -1.69%, while the 5-day performance has seen it change 0.32%. Over the past 30 days, the shares of Textron Inc. (NYSE:TXT) have changed -2.10%. Short interest in the company has seen 3.62 million shares shorted with days to cover at 2.31.
Wall Street analysts have a consensus price target for the stock at $81.61, which means that the shares’ value could jump 13.61% from the levels at last check today. The projected low price target is $70.90 while the price target rests at a high of $93.00. In that case, then, we find that the latest price level in today’s session is -31.91% off the targeted high while a plunge would see the stock gain -0.57% from the levels at last check today.
Textron Inc. (TXT) estimates and forecasts
Figures show that Textron Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 8.24% over the past 6 months, with this year growth rate of 19.39%, compared to -2.30% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 16.30% and 3.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be 4.70%.
3 analysts offering their estimates for the company have set an average revenue estimate of $3.31 billion for the current quarter. 1 have an estimated revenue figure of $2.79 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $3.02 billion and $2.93 billion respectively for this quarter and the next, and analysts expect sales will grow by 9.50% for the current quarter and -5.00% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 1.30% over the past 5 years. Earnings growth for 2023 is a modest 144.40% while over the next 5 years, the company’s earnings are expected to increase by 15.40%.
Textron Inc. is expected to release its next earnings report on January 25 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.08 at a share yield of 0.11%. The company’s dividend yield has gone up over the past 12 months.
Textron Inc. (NYSE:TXT)’s Major holders
Insiders own 0.54% of the company shares, while shares held by institutions stand at 86.77% with a share float percentage of 87.23%. Investors are also buoyed by the number of investors in a company, with Textron Inc. having a total of 724 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 23.7 million shares worth more than $1.66 billion. As of Sep 29, 2022, Vanguard Group, Inc. (The) held 11.35% of shares outstanding.
The other major institutional holder is T. Rowe Price Investment Management, Inc., with the holding of over 21.68 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $1.52 billion and represent 10.39% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Price (T.Rowe) Mid Cap Growth Fund and Vanguard Total Stock Market Index Fund. As of Sep 29, 2022, the former fund manager holds about 5.26% shares in the company for having 10.97 million shares of worth $768.25 million while later fund manager owns 6.29 million shares of worth $439.99 million as of Sep 29, 2022, which makes it owner of about 3.01% of company’s outstanding stock.