Textron (NYSE:TXT) Receives Buy Rating from Jefferies Financial Group

Textron (NYSE:TXT)‘s stock had its “buy” rating reissued by research analysts at Jefferies Financial Group in a research report issued on Thursday, MarketBeat reports. They presently have a $95.00 price objective on the aerospace company’s stock, up from their previous price objective of $85.00. Jefferies Financial Group’s price target points to a potential upside of 22.82% from the stock’s previous close.

TXT has been the topic of several other research reports. UBS Group lifted their target price on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research note on Monday, April 28th. Morgan Stanley decreased their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. Finally, Citigroup reduced their price target on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Textron currently has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Textron Stock Down 0.0%

TXT traded down $0.03 on Thursday, reaching $77.35. The company’s stock had a trading volume of 270,838 shares, compared to its average volume of 1,451,362. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Textron has a 1 year low of $57.70 and a 1 year high of $94.57. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The business’s 50 day moving average is $71.50 and its 200 day moving average is $74.19.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. As a group, research analysts forecast that Textron will post 6.12 EPS for the current fiscal year.

Institutional Trading of Textron

A number of large investors have recently made changes to their positions in TXT. Banque Cantonale Vaudoise bought a new position in Textron during the 1st quarter worth about $25,000. SBI Securities Co. Ltd. bought a new position in Textron during the 4th quarter worth about $31,000. Harvest Fund Management Co. Ltd increased its holdings in Textron by 100.0% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 262 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Textron during the 1st quarter worth about $41,000. Finally, Optiver Holding B.V. acquired a new position in shares of Textron during the 4th quarter worth about $56,000. Institutional investors own 86.03% of the company’s stock.

About Textron

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.