Wall Street Zen Downgrades Textron (NYSE:TXT) to Buy

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

Several other brokerages have also commented on TXT. UBS Group lifted their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. Jefferies Financial Group restated 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. Morgan Stanley lifted their price objective on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group restated a "neutral" rating and issued a $85.00 price objective (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Finally, Susquehanna lifted their price objective on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Textron has a consensus rating of "Hold" and a consensus target price of $89.75.

Textron Price Performance

Textron stock opened at $79.45 on Friday. The company has a fifty day simple moving average of $78.99 and a 200-day simple moving average of $74.71. Textron has a 12-month low of $57.70 and a 12-month high of $93.98. The company has a current ratio of 1.68, a quick ratio of 0.83 and a debt-to-equity ratio of 0.41. The stock has a market cap of $14.34 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.17.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the business earned $1.54 EPS. Textron's revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Textron will post 6.12 EPS for the current fiscal year.

Institutional Trading of Textron

Institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise purchased a new stake in Textron during the first quarter worth about $25,000. Harvest Fund Management Co. Ltd boosted its holdings in Textron by 100.0% during 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 Textron during the first quarter worth about $41,000. Optiver Holding B.V. purchased a new stake in Textron during the fourth quarter worth about $56,000. Finally, Federated Hermes Inc. boosted its holdings in Textron by 48.8% during 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. 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.

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