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

StockNews.com upgraded shares of Textron (NYSE:TXT) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning.

TXT has been the topic of several other reports. Morgan Stanley lowered shares of Textron from an overweight rating to an equal weight rating and set a $95.00 price target on the stock. in a report on Thursday, August 8th. TD Cowen lifted their price target on shares of Textron from $100.00 to $103.00 and gave the company a buy rating in a report on Friday, July 19th. Bank of America boosted their target price on shares of Textron from $105.00 to $110.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. UBS Group boosted their target price on shares of Textron from $84.00 to $87.00 and gave the stock a sell rating in a report on Friday, July 19th. Finally, Citigroup boosted their target price on shares of Textron from $111.00 to $115.00 and gave the stock a buy rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $102.50.

Textron Price Performance

TXT stock opened at $88.55 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron has a 12 month low of $74.13 and a 12 month high of $97.33. The firm has a market cap of $16.59 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.45 and a beta of 1.23. The company’s 50-day moving average price is $88.52 and its two-hundred day moving average price is $89.29.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS. On average, analysts anticipate that Textron will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.02 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is currently 1.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of Textron in the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Textron in the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. acquired a new position in shares of Textron during the 2nd quarter valued at $31,000. Family Firm Inc. acquired a new position in shares of Textron during the 2nd quarter valued at $40,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 338 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.