Textron (NYSE:TXT) Downgraded to “Buy” at StockNews.com

Textron (NYSE:TXT) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

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

Textron Stock Down 0.1 %

TXT opened at $86.44 on Thursday. Textron has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. The company’s 50-day moving average is $88.59 and its 200 day moving average is $89.34. The firm has a market capitalization of $16.48 billion, a P/E ratio of 18.47, a PEG ratio of 1.36 and a beta of 1.23.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.48 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. Research analysts expect that Textron will post 6.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TXT. Sanctuary Advisors LLC bought a new position in shares of Textron in the 2nd quarter worth $4,284,000. Teachers Retirement System of The State of Kentucky increased its stake in Textron by 20.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 330,337 shares of the aerospace company’s stock valued at $28,362,000 after acquiring an additional 56,544 shares during the last quarter. Delphi Management Inc. MA raised its position in Textron by 2.2% during the second quarter. Delphi Management Inc. MA now owns 19,012 shares of the aerospace company’s stock valued at $1,632,000 after purchasing an additional 402 shares in the last quarter. Cetera Investment Advisers lifted its stake in Textron by 4.7% during the second quarter. Cetera Investment Advisers now owns 53,084 shares of the aerospace company’s stock worth $4,558,000 after purchasing an additional 2,400 shares during the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new position in shares of Textron in the 2nd quarter worth about $483,000. Institutional investors 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.