Textron (NYSE:TXT) Stock Rating Lowered by Wall Street Zen

Textron (NYSE:TXT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

A number of other research analysts have also weighed in on the stock. Morgan Stanley dropped their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 price objective (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $85.00 price objective (down from $95.00) on shares of Textron in a research note on Tuesday. Citigroup dropped their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group raised their price objective on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $88.08.

Textron Stock Up 0.7%

NYSE TXT traded up $0.56 on Friday, hitting $82.50. 907,016 shares of the company were exchanged, compared to its average volume of 1,264,190. The company has a market cap of $14.89 billion, a PE ratio of 18.71, a PEG ratio of 1.34 and a beta of 1.17. Textron has a 12 month low of $57.70 and a 12 month high of $94.57. The stock has a fifty day moving average of $75.56 and a 200-day moving average of $73.93. The company has a current ratio of 1.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46.

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

Institutional Trading of Textron

Several hedge funds have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. raised its position in Textron by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company's stock worth $824,408,000 after acquiring an additional 76,972 shares during the period. Invesco Ltd. raised its position in Textron by 5.6% in the first quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company's stock worth $590,059,000 after acquiring an additional 433,567 shares during the period. Boston Partners raised its position in Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after acquiring an additional 333,127 shares during the period. Geode Capital Management LLC raised its position in Textron by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after acquiring an additional 164,964 shares during the period. Finally, Brandes Investment Partners LP raised its position in Textron by 19.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock worth $142,249,000 after acquiring an additional 302,712 shares during the period. 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.