Textron (NYSE:TXT) Upgraded at Vertical Research

Vertical Research upgraded shares of Textron (NYSE:TXT) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. Vertical Research currently has $91.00 target price on the aerospace company’s stock.

Several other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. TD Cowen raised shares of Textron to a “hold” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, UBS Group lowered their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.64.

Textron Stock Performance

Shares of TXT opened at $76.02 on Monday. The company has a market capitalization of $14.10 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. Textron has a one year low of $74.89 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The company’s fifty day moving average price is $81.61 and its 200 day moving average price is $85.56.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the business earned $1.49 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts expect that Textron will post 5.52 earnings per share for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were given a $0.02 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Hedge Funds Weigh In On Textron

Large investors have recently modified their holdings of the stock. True Wealth Design LLC acquired a new position in shares of Textron during the third quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Textron during the third quarter worth approximately $42,000. Truvestments Capital LLC acquired a new position in shares of Textron during the third quarter worth approximately $43,000. Venturi Wealth Management LLC lifted its holdings in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after buying an additional 232 shares during the period. Finally, Trust Co. of Vermont lifted its holdings in Textron by 94.7% in the third quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock valued at $81,000 after buying an additional 445 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.