Textron Inc. (TXT) Earns Buy Rating from Jefferies Group LLC
Textron Inc. (NYSE:TXT)‘s stock had its “buy” rating restated by analysts at Jefferies Group LLC in a research report issued on Tuesday. They currently have a $60.00 price objective on the aerospace company’s stock. Jefferies Group LLC’s target price points to a potential upside of 13.08% from the company’s current price.
Several other analysts have also commented on TXT. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Thursday, September 21st. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Morgan Stanley lifted their price objective on Textron from $45.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, August 17th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $54.00 price objective (up previously from $52.00) on shares of Textron in a report on Saturday, July 22nd. Finally, Bank of America Corporation lowered 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 report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $53.75.
Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. Textron’s revenue was up 2.6% compared to the same quarter last year.
Large investors have recently added to or reduced their stakes in the business. MRJ Capital Inc. bought a new stake in Textron during the second quarter valued at about $3,589,000. Airain ltd purchased a new position in shares of Textron in the second quarter valued at about $2,608,000. Bank of Nova Scotia lifted its position in shares of 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 acquiring an additional 55,782 shares in the last quarter. Highbridge Capital Management LLC lifted its position in shares of Textron by 153.1% in the first quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock valued at $253,000 after acquiring an additional 15,308 shares in the last quarter. Finally, NBT Bank N A NY lifted its position in shares of Textron by 0.8% in the second quarter. NBT Bank N A NY now owns 19,598 shares of the aerospace company’s stock valued at $923,000 after acquiring an additional 158 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related companies with MarketBeat.com's FREE daily email newsletter.