Textron (NYSE:TXT) Lifted to “Strong-Buy” at StockNews.com

Textron (NYSE:TXT) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Other equities analysts have also recently issued research reports about the stock. UBS Group raised their target price on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. 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. TD Cowen raised their target price on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Bank of America raised their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Citigroup raised their target price on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Textron Stock Performance

NYSE:TXT traded down $0.39 during mid-day trading on Wednesday, hitting $88.55. The stock had a trading volume of 928,223 shares, compared to its average volume of 1,082,972. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.45 and a beta of 1.23. The company has a 50 day simple moving average of $88.52 and a 200-day simple moving average of $89.29. Textron has a 52 week low of $74.13 and a 52 week high of $97.33. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Altman Advisors Inc. increased its position in shares of Textron by 0.6% in the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after acquiring an additional 129 shares in the last quarter. True Vision MN LLC increased its position in shares of Textron by 2.5% in the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after acquiring an additional 133 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Textron by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after acquiring an additional 146 shares in the last quarter. Czech National Bank increased its position in shares of Textron by 0.5% in the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after acquiring an additional 157 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Textron by 4.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock worth $353,000 after acquiring an additional 175 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

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.