StockNews.com Lowers Textron (NYSE:TXT) to Buy

StockNews.com lowered shares of Textron (NYSE:TXT) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

Several other analysts have also recently issued reports on TXT. Citigroup upped their price objective on Textron from $111.00 to $115.00 and gave the stock a buy rating in a report on Monday, July 22nd. Morgan Stanley lowered shares of Textron from an overweight rating to an equal weight rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. UBS Group upped their target price on shares of Textron from $84.00 to $87.00 and gave the company a sell rating in a research report on Friday, July 19th. Bank of America lifted their price target on Textron from $105.00 to $110.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Finally, TD Cowen upped their price objective on Textron from $100.00 to $103.00 and gave the company a buy rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Textron currently has an average rating of Moderate Buy and an average target price of $102.50.

Textron Price Performance

Shares of NYSE:TXT opened at $87.70 on Thursday. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.38 and a beta of 1.23. The firm has a fifty day moving average price of $88.66 and a 200 day moving average price of $89.33. Textron has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. The business had revenue of $3.53 billion during 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%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, sell-side analysts expect that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Hedge Funds Weigh In On Textron

A number of large investors have recently bought and sold shares of the business. Boston Partners boosted its stake in shares of Textron by 1.4% during the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock valued at $682,475,000 after purchasing an additional 99,868 shares during the period. LSV Asset Management increased its stake in shares of Textron by 6.9% during the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after buying an additional 260,003 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after acquiring an additional 160,923 shares in the last quarter. Brandes Investment Partners LP lifted its stake in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after acquiring an additional 258,778 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Textron by 18.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after acquiring an additional 231,173 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Company Profile

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.