ValuEngine Upgrades Textron (TXT) to Buy

ValuEngine upgraded shares of Textron (NYSE:TXT) from a hold rating to a buy rating in a research report report published on Sunday.

TXT has been the subject of a number of other research reports. Zacks Investment Research cut Textron from a hold rating to a sell rating in a research note on Tuesday, November 7th. Wells Fargo & Co boosted their price objective on Textron from $54.00 to $59.00 and gave the company an outperform rating in a research note on Friday, October 20th. Jefferies Group reiterated a buy rating and issued a $60.00 price objective on shares of Textron in a research note on Tuesday, September 26th. Citigroup boosted their price objective on Textron from $54.00 to $61.00 and gave the company a buy rating in a research note on Friday, October 20th. Finally, Credit Suisse Group reduced their price objective on Textron from $61.00 to $59.00 and set an outperform rating for the company in a research note on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Textron presently has an average rating of Hold and a consensus target price of $57.82.

Textron (TXT) traded down $0.05 during mid-day trading on Friday, reaching $57.58. The company had a trading volume of 1,190,114 shares, compared to its average volume of 1,169,305. The stock has a market capitalization of $15,120.00, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.32 and a beta of 1.57. Textron has a 12-month low of $43.66 and a 12-month high of $57.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.96 and a current ratio of 2.08.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Textron had a return on equity of 12.02% and a net margin of 4.48%. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. research analysts predict that Textron will post 2.47 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Thursday, December 14th. Textron’s payout ratio is currently 3.45%.

Several large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its holdings in shares of Textron by 20.8% in the third quarter. Parametric Portfolio Associates LLC now owns 575,945 shares of the aerospace company’s stock valued at $31,032,000 after purchasing an additional 99,183 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Textron in the third quarter valued at approximately $110,000. IFM Investors Pty Ltd acquired a new position in shares of Textron in the third quarter valued at approximately $501,000. Neuberger Berman Group LLC increased its holdings in shares of Textron by 13.0% in the third quarter. Neuberger Berman Group LLC now owns 4,886,812 shares of the aerospace company’s stock valued at $263,302,000 after purchasing an additional 563,037 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Textron by 5.5% in the third quarter. California Public Employees Retirement System now owns 644,553 shares of the aerospace company’s stock valued at $34,729,000 after purchasing an additional 33,653 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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About Textron

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Textron (NYSE:TXT)

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