Textron (NYSE:TXT) Upgraded to Strong-Buy at Wall Street Zen

Textron (NYSE:TXT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Sunday.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $85.00 price target (down from $95.00) on shares of Textron in a report on Tuesday, July 1st. Citigroup cut their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. UBS Group lifted their price target on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday, April 28th. Morgan Stanley cut their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $95.00 price target (up from $85.00) on shares of Textron in a report on Thursday, June 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.08.

Textron Stock Down 0.2%

TXT stock opened at $85.02 on Friday. Textron has a 12-month low of $57.70 and a 12-month high of $94.57. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46. The company has a market cap of $15.35 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.39 and a beta of 1.17. The company has a 50 day moving average of $76.86 and a two-hundred day moving average of $74.14.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. Textron's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. On average, equities analysts anticipate that Textron will post 6.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Textron

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new stake in shares of Textron in the first quarter worth about $25,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock worth $39,000 after buying an additional 262 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Textron in the first quarter worth about $41,000. Optiver Holding B.V. purchased a new stake in shares of Textron in the fourth quarter worth about $56,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Textron by 48.8% in the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock worth $58,000 after buying an additional 263 shares in the last quarter. 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.

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