Textron (NYSE:TXT) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Textron (NYSE:TXT) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

A number of other research analysts also recently commented on TXT. UBS Group boosted their price target on Textron from $89.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. TD Cowen dropped their target price on shares of Textron from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, October 24th. Citigroup increased their price target on shares of Textron from $91.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Susquehanna reissued a “positive” rating and issued a $110.00 price objective on shares of Textron in a research note on Thursday, January 15th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $94.00 price objective on shares of Textron in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.90.

Textron Trading Down 1.1%

Shares of TXT stock opened at $94.94 on Friday. The stock has a market cap of $16.73 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.00. Textron has a 1 year low of $57.70 and a 1 year high of $96.98. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $87.70 and a 200 day simple moving average of $83.79.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Textron by 167.2% during the 4th quarter. Farther Finance Advisors LLC now owns 3,735 shares of the aerospace company’s stock worth $326,000 after acquiring an additional 2,337 shares during the last quarter. Blue Fin Capital Inc. boosted its stake in shares of Textron by 19.1% during the fourth quarter. Blue Fin Capital Inc. now owns 6,024 shares of the aerospace company’s stock valued at $525,000 after purchasing an additional 967 shares in the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of Textron by 58.9% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,424 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 1,640 shares in the last quarter. Stanley Laman Group Ltd. grew its holdings in shares of Textron by 6.6% during the fourth quarter. Stanley Laman Group Ltd. now owns 27,866 shares of the aerospace company’s stock worth $2,429,000 after purchasing an additional 1,735 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its stake in shares of Textron by 4.8% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 4,103 shares of the aerospace company’s stock valued at $358,000 after buying an additional 187 shares during the period. 86.03% of the stock is currently owned by institutional investors.

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.