Textron (NYSE:TXT) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Textron (NYSE:TXT – Get Rating) from a buy rating to a strong-buy rating in a report issued on Tuesday.

Separately, The Goldman Sachs Group lifted their price objective on Textron from $84.00 to $93.00 and gave the company a buy rating in a research note on Thursday, December 15th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $81.67.

Textron Stock Up 1.6 %

TXT opened at $68.19 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.19 and a quick ratio of 1.22. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.24 and a beta of 1.49. The business has a 50-day moving average of $72.19 and a two-hundred day moving average of $68.45. Textron has a 12 month low of $57.11 and a 12 month high of $76.11.

Textron (NYSE:TXT – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The aerospace company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.01 by $0.06. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Textron had a return on equity of 12.50% and a net margin of 6.69%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. On average, research analysts expect that Textron will post 4.98 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date is Thursday, March 9th. Textron’s dividend payout ratio (DPR) is presently 2.00%.

Insider Buying and Selling

In other Textron news, CEO Scott C. Donnelly sold 222,319 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $73.35, for a total value of $16,307,098.65. Following the transaction, the chief executive officer now directly owns 683,136 shares of the company’s stock, valued at approximately $50,108,025.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Scott C. Donnelly sold 222,319 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $73.35, for a total value of $16,307,098.65. Following the completion of the sale, the chief executive officer now directly owns 683,136 shares in the company, valued at approximately $50,108,025.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Frank T. Connor sold 63,361 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $73.35, for a total value of $4,647,529.35. Following the completion of the sale, the chief financial officer now owns 151,455 shares of the company’s stock, valued at $11,109,224.25. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Textron

Several institutional investors have recently modified their holdings of the company. Coston McIsaac & Partners purchased a new stake in shares of Textron during the second quarter valued at $26,000. James Investment Research Inc. purchased a new stake in shares of Textron during the fourth quarter valued at $30,000. Money Concepts Capital Corp lifted its holdings in shares of Textron by 109.0% during the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 231 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Textron by 100.0% during the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Textron during the first quarter valued at $40,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Textron Company Profile

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Textron, Inc is a multi-industry company, which leverages a global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.