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.
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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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.
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