Textron (NYSE:TXT) Rating Lowered to “Buy” at Wall Street Zen

Textron (NYSE:TXT) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other equities research analysts also recently issued reports on TXT. Weiss Ratings upgraded Textron from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Jefferies Financial Group reissued a “buy” rating and set a $115.00 target price on shares of Textron in a research note on Thursday, January 15th. Citigroup upped their price target on shares of Textron from $91.00 to $107.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. TD Cowen dropped their price objective on shares of Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Finally, UBS Group boosted their price objective on shares of Textron from $89.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.90.

Textron Trading Down 1.1%

TXT opened at $94.94 on Friday. The firm’s fifty day moving average is $87.70 and its two-hundred day moving average is $83.79. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.84. The firm has a market cap of $16.73 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.00. Textron has a twelve month low of $57.70 and a twelve month high of $96.98.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.08. Textron had a net margin of 5.81% and a return on equity of 14.16%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the business earned $1.40 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Textron will post 6.12 EPS for the current year.

Institutional Trading of Textron

Hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its holdings in shares of Textron by 2.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 4,963 shares of the aerospace company’s stock valued at $398,000 after buying an additional 140 shares during the period. Glenmede Investment Management LP increased its position in Textron by 1.0% during the third quarter. Glenmede Investment Management LP now owns 14,123 shares of the aerospace company’s stock valued at $1,193,000 after acquiring an additional 142 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Textron by 18.8% during the second quarter. Geneos Wealth Management Inc. now owns 998 shares of the aerospace company’s stock valued at $80,000 after acquiring an additional 158 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Textron by 2.3% in the second quarter. Fifth Third Bancorp now owns 7,063 shares of the aerospace company’s stock valued at $567,000 after acquiring an additional 159 shares during the period. Finally, CX Institutional lifted its holdings in Textron by 6.8% in the third quarter. CX Institutional now owns 2,529 shares of the aerospace company’s stock valued at $214,000 after acquiring an additional 162 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.