Textron (NYSE:TXT) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Textron (NYSE:TXT) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley cut shares of Textron from an overweight rating to an equal weight rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. Bank of America raised their price objective on shares of Textron from $105.00 to $110.00 and gave the company a buy rating in a report on Tuesday, July 23rd. TD Cowen raised their price objective on shares of Textron from $100.00 to $103.00 and gave the company a buy rating in a report on Friday, July 19th. Citigroup raised their price objective on shares of Textron from $111.00 to $115.00 and gave the company a buy rating in a report on Monday, July 22nd. Finally, UBS Group raised their price objective on shares of Textron from $84.00 to $87.00 and gave the company a sell rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Textron currently has a consensus rating of Moderate Buy and a consensus target price of $102.50.

Textron Stock Down 1.7 %

TXT stock opened at $85.71 on Wednesday. The stock has a market capitalization of $16.34 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. 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 has a 12 month low of $74.13 and a 12 month high of $97.33. The firm has a 50-day moving average price of $88.54 and a 200-day moving average price of $89.31.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, equities research analysts anticipate that Textron will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s dividend payout ratio (DPR) is 1.71%.

Institutional Trading of Textron

Large investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in Textron in the 2nd quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Textron in the 2nd quarter valued at $30,000. Oakworth Capital Inc. acquired a new stake in Textron in the 2nd quarter valued at $31,000. Family Firm Inc. acquired a new stake in Textron in the 2nd quarter valued at $40,000. Finally, Truvestments Capital LLC acquired a new stake in Textron in the 1st quarter valued at $48,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.