Textron (NYSE:TXT) Upgraded at Vertical Research

Textron (NYSE:TXT) was upgraded by Vertical Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm currently has a $91.00 price target on the aerospace company’s stock. Vertical Research’s target price would indicate a potential upside of 18.83% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. TD Cowen raised shares of Textron to a “hold” rating in a research note on Thursday, December 19th. UBS Group cut their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. Robert W. Baird reduced their price target on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Textron Stock Up 1.1 %

Shares of NYSE:TXT opened at $76.58 on Monday. The stock has a market capitalization of $14.21 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The stock’s 50-day moving average price is $82.01 and its 200-day moving average price is $85.78. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron has a 12-month low of $75.09 and a 12-month high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the business earned $1.49 earnings per share. Textron’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Textron will post 5.52 earnings per share for the current year.

Institutional Investors Weigh In On Textron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXT. True Wealth Design LLC purchased a new position in Textron during the third quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in shares of Textron in the 3rd quarter worth about $42,000. Truvestments Capital LLC purchased a new position in Textron during the 3rd quarter valued at about $43,000. Venturi Wealth Management LLC lifted its position in Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after acquiring an additional 232 shares during the period. Finally, Trust Co. of Vermont boosted its stake in Textron by 94.7% during the third quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock worth $81,000 after acquiring an additional 445 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Company Profile

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.