By otakuyassine3@gmail.com 
TD Cowen upgraded shares of Textron (NYSE:TXT – Free Report) to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.
Other equities analysts also recently issued research reports about the stock. Robert W. Baird dropped their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Monday, January 6th. Barclays cut their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Bank of America cut Textron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Finally, Morgan Stanley cut their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.
View Our Latest Stock Report on TXT
Textron Trading Down 0.3 %
Shares of TXT opened at $72.99 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron has a 52-week low of $71.67 and a 52-week high of $97.33. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.18 and a beta of 1.27. The business’s fifty day moving average is $75.83 and its 200-day moving average is $82.45.
Textron (NYSE:TXT – Get Free Report) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.60 earnings per share. Equities analysts anticipate that Textron will post 6.12 EPS for the current fiscal year.
Textron Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s payout ratio is 1.86%.
Insider Buying and Selling
In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.
Institutional Investors Weigh In On Textron
Institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its stake in Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after buying an additional 1,167,105 shares during the last quarter. Boston Partners grew its holdings in Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after acquiring an additional 333,127 shares during the period. Geode Capital Management LLC raised its position in shares of Textron by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock worth $350,619,000 after acquiring an additional 164,964 shares in the last quarter. Brandes Investment Partners LP lifted its stake in shares of Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after purchasing an additional 302,712 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Textron by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock valued at $137,971,000 after purchasing an additional 155,384 shares in the last quarter. 86.03% of the stock is owned by 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.
Further Reading
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