StockNews.com Downgrades Textron (NYSE:TXT) to Buy

Textron (NYSE:TXT) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Several other equities research analysts also recently issued reports on TXT. Susquehanna cut their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday. The Goldman Sachs Group lifted their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group boosted their target price on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. Finally, Citigroup boosted their target price on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Textron presently has an average rating of “Moderate Buy” and a consensus price target of $95.63.

Textron Trading Up 1.9 %

Textron stock opened at $86.51 on Friday. The firm has a 50-day moving average of $92.10 and a 200-day moving average of $83.90. Textron has a one year low of $61.27 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.66 and a quick ratio of 1.03. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.33 and a beta of 1.30.

Textron (NYSE:TXT) last issued its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts expect that Textron will post 6.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Textron

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Metis Global Partners LLC grew its position in Textron by 12.8% in the 3rd quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock worth $796,000 after purchasing an additional 1,158 shares in the last quarter. LSV Asset Management grew its position in Textron by 7.6% in the 3rd quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock worth $255,656,000 after purchasing an additional 230,560 shares in the last quarter. Deutsche Bank AG grew its position in Textron by 36.9% in the 3rd quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock worth $42,367,000 after purchasing an additional 146,055 shares in the last quarter. AustralianSuper Pty Ltd grew its position in Textron by 13.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after purchasing an additional 11,510 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Textron by 269.1% in the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after purchasing an additional 15,235 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.