Textron (NYSE:TXT) Stock Rating Lowered by StockNews.com

Textron (NYSE:TXTGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Separately, Zacks Investment Research upgraded Textron from a “sell” rating to a “hold” rating and set a $75.00 target price on the stock in a research note on Thursday, April 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $85.00.

Textron stock traded up $1.74 during mid-day trading on Thursday, reaching $64.34. The company’s stock had a trading volume of 1,269,113 shares, compared to its average volume of 1,315,024. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.21 and a beta of 1.64. The business has a 50 day moving average price of $68.89 and a 200-day moving average price of $71.63. The company has a current ratio of 2.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.53. Textron has a twelve month low of $60.36 and a twelve month high of $79.45.

Textron (NYSE:TXTGet Rating) last released its quarterly earnings data on Thursday, April 28th. The aerospace company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.16. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. Textron had a net margin of 6.14% and a return on equity of 12.08%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. On average, equities analysts expect that Textron will post 4.08 EPS for the current fiscal year.

In other Textron news, EVP E Robert Lupone sold 29,752 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $72.63, for a total value of $2,160,887.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark S. Bamford sold 2,701 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $72.90, for a total transaction of $196,902.90. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC raised its position in Textron by 23.9% in the first quarter. Neuberger Berman Group LLC now owns 820,864 shares of the aerospace company’s stock worth $61,068,000 after acquiring an additional 158,090 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Textron by 10.6% in the 1st quarter. Advisors Asset Management Inc. now owns 8,729 shares of the aerospace company’s stock worth $649,000 after purchasing an additional 838 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Textron by 12.2% in the 1st quarter. Alyeska Investment Group L.P. now owns 605,765 shares of the aerospace company’s stock worth $45,057,000 after purchasing an additional 65,772 shares in the last quarter. Royal Bank of Canada increased its stake in Textron by 58.7% in the 1st quarter. Royal Bank of Canada now owns 345,098 shares of the aerospace company’s stock worth $25,668,000 after purchasing an additional 127,608 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in Textron by 67.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 18,125 shares of the aerospace company’s stock worth $1,348,000 after purchasing an additional 7,325 shares in the last quarter. Hedge funds and other institutional investors own 86.10% of the company’s stock.

About Textron (Get Rating)

Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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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