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

Key Points

• Wall Street Zen has downgraded Textron (NYSE:TXT) from a "strong-buy" rating to a "buy" rating, indicating a shift in analysts' confidence.
• Textron reported earnings of $1.55 per share in its latest quarterly results, exceeding expectations of $1.45 per share, with revenue of $3.72 billion.
• Currently, Textron has an average rating of "Hold" from analysts and an average target price of $92.45.

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

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Textron in a research report on Wednesday, October 8th. UBS Group raised Textron from a "sell" rating to a "neutral" rating and increased their price target for the stock from $73.00 to $88.00 in a research report on Monday, July 28th. Barclays upped their target price on Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 target price (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Finally, Susquehanna upped their target price on Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $92.45.

Textron Trading Down 0.4%

Shares of NYSE:TXT opened at $81.31 on Friday. The company has a market capitalization of $14.49 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.32 and a beta of 1.13. Textron has a 1 year low of $57.70 and a 1 year high of $91.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. The business's 50 day simple moving average is $82.09 and its 200 day simple moving average is $77.46.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.10. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%.The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Textron will post 6.12 EPS for the current fiscal year.

Insider Activity at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the transaction, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hantz Financial Services Inc. lifted its stake in shares of Textron by 2.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 4,963 shares of the aerospace company's stock valued at $398,000 after acquiring an additional 140 shares during the last quarter. Moody National Bank Trust Division lifted its stake in shares of Textron by 1.2% in the 2nd quarter. Moody National Bank Trust Division now owns 12,139 shares of the aerospace company's stock valued at $975,000 after acquiring an additional 141 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Textron by 10.3% in the 1st quarter. Brooklyn Investment Group now owns 1,665 shares of the aerospace company's stock valued at $120,000 after acquiring an additional 156 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Textron by 18.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 998 shares of the aerospace company's stock valued at $80,000 after acquiring an additional 158 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Textron by 2.3% in the 2nd quarter. Fifth Third Bancorp now owns 7,063 shares of the aerospace company's stock valued at $567,000 after acquiring an additional 159 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.