Textron Inc. (TXT) Lifted to “Buy” at ValuEngine
Textron Inc. (NYSE:TXT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.
A number of other analysts have also commented on the stock. Morgan Stanley upped their price objective on shares of Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, August 17th. BidaskClub lowered shares of Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $54.00 price objective (up from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Bank of America Corporation lowered shares of Textron from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $53.00 to $45.00 in a research note on Friday, July 21st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $55.00 price objective (up from $50.00) on shares of Textron in a research note on Thursday, July 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 a consensus rating of “Hold” and a consensus price target of $53.00.
Shares of Textron (NYSE:TXT) opened at 49.24 on Friday. Textron has a 12-month low of $37.19 and a 12-month high of $50.93. The stock has a market capitalization of $13.03 billion, a P/E ratio of 15.05 and a beta of 1.56. The company has a 50-day moving average of $48.74 and a 200-day moving average of $47.72.
Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The company had revenue of $3.60 billion during 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% on a year-over-year basis. Equities analysts expect that Textron will post $2.53 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of TXT. Vanguard Group Inc. increased its holdings in Textron by 1.6% in the second quarter. Vanguard Group Inc. now owns 24,931,208 shares of the aerospace company’s stock worth $1,174,260,000 after buying an additional 393,214 shares during the last quarter. Capital Research Global Investors increased its holdings in Textron by 2.1% in the second quarter. Capital Research Global Investors now owns 18,615,303 shares of the aerospace company’s stock worth $876,781,000 after buying an additional 378,902 shares during the last quarter. BlackRock Inc. increased its holdings in Textron by 3.8% in the second quarter. BlackRock Inc. now owns 17,799,799 shares of the aerospace company’s stock worth $838,370,000 after buying an additional 655,034 shares during the last quarter. State Street Corp increased its holdings in Textron by 3.3% in the first quarter. State Street Corp now owns 11,562,285 shares of the aerospace company’s stock worth $550,256,000 after buying an additional 370,189 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Textron by 4.9% in the second quarter. American Century Companies Inc. now owns 5,457,637 shares of the aerospace company’s stock worth $257,055,000 after buying an additional 252,903 shares during the last quarter. Institutional investors own 81.50% of the company’s stock.
Textron Company Profile
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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