Textron (NYSE:TXT) Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Textron (NYSE:TXT) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.

TXT has been the subject of several other reports. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. UBS Group increased their price objective on Textron from $84.00 to $87.00 and gave the stock a sell rating in a research note on Friday, July 19th. TD Cowen raised their price target on shares of Textron from $100.00 to $103.00 and gave the company a buy rating in a research report on Friday, July 19th. Citigroup upped their price objective on Textron from $111.00 to $115.00 and gave the company a buy rating in a research note on Monday, July 22nd. Finally, Morgan Stanley cut shares of Textron from an overweight rating to an equal weight rating and set a $95.00 target price on the stock. in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $102.50.

Textron Stock Performance

Textron stock opened at $87.70 on Thursday. Textron has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. The company has a market capitalization of $16.43 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.38 and a beta of 1.23. The business has a 50 day moving average of $88.66 and a 200-day moving average of $89.35.

Textron (NYSE:TXT) last announced its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. On average, equities research analysts predict that Textron will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in Textron in the second quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Textron in the 2nd quarter worth about $30,000. Oakworth Capital Inc. purchased a new stake in shares of Textron during the second quarter valued at approximately $31,000. Family Firm Inc. purchased a new stake in Textron during the 2nd quarter valued at $40,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 338 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

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.