Textron Inc. (NYSE:TXT) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday.

A number of other equities analysts have also recently weighed in on the stock. Stephens began coverage on shares of Textron in a research report on Thursday, April 13th. They set an “equal weight” rating and a $54.00 price target on the stock. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price target on shares of Textron in a research report on Tuesday, March 21st. Credit Suisse Group reissued a “buy” rating and set a $50.00 price target on shares of Textron in a research report on Tuesday, April 11th. Cowen and Company reissued an “outperform” rating and set a $60.00 price target on shares of Textron in a research report on Saturday, April 22nd. Finally, Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.75.

Shares of Textron (NYSE:TXT) traded up 2.008% during midday trading on Tuesday, hitting $46.485. The stock had a trading volume of 2,199,960 shares. The stock has a 50-day moving average of $47.24 and a 200 day moving average of $47.82. Textron has a 52 week low of $34.00 and a 52 week high of $50.93. The stock has a market cap of $12.44 billion, a PE ratio of 13.860 and a beta of 1.55.

Textron (NYSE:TXT) last released its earnings results on Wednesday, April 19th. The aerospace company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Textron had a net margin of 6.67% and a return on equity of 12.53%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the business earned $0.55 EPS. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. Analysts anticipate that Textron will post $2.52 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.18%. Textron’s dividend payout ratio is 2.39%.

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Several institutional investors have recently made changes to their positions in TXT. CCM Investment Advisers LLC boosted its stake in Textron by 2.6% in the first quarter. CCM Investment Advisers LLC now owns 178,847 shares of the aerospace company’s stock valued at $8,511,000 after buying an additional 4,512 shares in the last quarter. Bank of Nova Scotia boosted its stake in Textron by 939.6% in the first quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock valued at $2,937,000 after buying an additional 55,782 shares in the last quarter. Janus Capital Management LLC boosted its stake in Textron by 273.2% in the first quarter. Janus Capital Management LLC now owns 137,443 shares of the aerospace company’s stock valued at $6,541,000 after buying an additional 100,615 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Textron by 89.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,006 shares of the aerospace company’s stock valued at $333,000 after buying an additional 3,306 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Textron by 14.8% in the first quarter. HighTower Advisors LLC now owns 26,735 shares of the aerospace company’s stock valued at $1,274,000 after buying an additional 3,448 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Textron (NYSE:TXT)

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