Textron (NYSE:TXT) Cut to Buy at Wall Street Zen

Textron (NYSE:TXT) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other equities research analysts have also commented on TXT. Jefferies Financial Group restated a “buy” rating and set a $115.00 price target on shares of Textron in a research report on Thursday, January 15th. Freedom Capital raised Textron to a “strong-buy” rating in a research note on Friday, January 16th. Susquehanna restated a “positive” rating and set a $110.00 target price on shares of Textron in a report on Thursday, January 15th. TD Cowen cut their price target on Textron from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, October 24th. Finally, Citigroup upped their price target on shares of Textron from $91.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.90.

Textron Stock Down 1.1%

Shares of NYSE TXT opened at $94.94 on Friday. Textron has a 52-week low of $57.70 and a 52-week high of $96.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.84. The business has a fifty day moving average of $87.70 and a two-hundred day moving average of $83.79. The stock has a market cap of $16.73 billion, a PE ratio of 20.87, a PEG ratio of 1.44 and a beta of 1.00.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.08. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.70 billion. Textron had a net margin of 5.81% and a return on equity of 14.16%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. As a group, equities research analysts expect that Textron will post 6.12 earnings per share for the current fiscal year.

Institutional Trading of Textron

Several institutional investors and hedge funds have recently made changes to their positions in TXT. Farther Finance Advisors LLC boosted its position in shares of Textron by 167.2% in the 4th quarter. Farther Finance Advisors LLC now owns 3,735 shares of the aerospace company’s stock worth $326,000 after purchasing an additional 2,337 shares during the last quarter. Blue Fin Capital Inc. increased its holdings in Textron by 19.1% in the fourth quarter. Blue Fin Capital Inc. now owns 6,024 shares of the aerospace company’s stock valued at $525,000 after purchasing an additional 967 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in Textron by 58.9% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,424 shares of the aerospace company’s stock valued at $386,000 after buying an additional 1,640 shares during the period. Stanley Laman Group Ltd. boosted its holdings in Textron by 6.6% during the fourth quarter. Stanley Laman Group Ltd. now owns 27,866 shares of the aerospace company’s stock worth $2,429,000 after buying an additional 1,735 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its holdings in Textron by 4.8% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 4,103 shares of the aerospace company’s stock worth $358,000 after buying an additional 187 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.