Textron (NYSE:TXT) Rating Lowered to Buy at StockNews.com

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

TXT has been the topic of a number of other reports. The Goldman Sachs Group increased their target price on Textron from $103.00 to $120.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Susquehanna cut their target price on Textron from $110.00 to $105.00 and set a positive rating on the stock in a research note on Friday. UBS Group upped their price target on Textron from $77.00 to $81.00 and gave the company a sell rating in a report on Friday, January 26th. Citigroup increased their price objective on Textron from $104.00 to $111.00 and gave the company a buy rating in a research report on Thursday, April 4th. Finally, Bank of America raised Textron from a neutral rating to a buy rating and increased their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $95.63.

Textron Trading Up 1.9 %

NYSE TXT opened at $86.51 on Friday. Textron has a 12 month low of $61.27 and a 12 month high of $97.33. The stock has a market cap of $16.64 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.33 and a beta of 1.30. The stock’s fifty day moving average price is $92.10 and its 200-day moving average price is $83.86. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.41.

Textron (NYSE:TXT) last released its earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the company posted $1.05 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts forecast that Textron will post 6.3 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.02 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s payout ratio is 1.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CVA Family Office LLC purchased a new position in Textron in the fourth quarter worth about $29,000. Global Retirement Partners LLC boosted its position in Textron by 393.9% in the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 390 shares during the last quarter. Trust Co. of Vermont purchased a new position in Textron in the third quarter worth about $37,000. Provence Wealth Management Group purchased a new position in Textron in the third quarter worth about $39,000. Finally, Morton Brown Family Wealth LLC purchased a new position in Textron in the fourth quarter worth about $40,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

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.