Textron (NYSE:TXT) Raised to Strong-Buy at Wall Street Zen

Textron (NYSE:TXT) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently commented on TXT. Weiss Ratings reiterated a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. Barclays raised their target price on Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Morgan Stanley boosted their price target on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. UBS Group raised Textron from a “sell” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $88.00 in a report on Monday, July 28th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.45.

Textron Stock Performance

TXT opened at $81.58 on Friday. The company has a market cap of $14.54 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 1.32 and a beta of 1.13. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $81.62 and its 200-day moving average price is $77.15. Textron has a 52-week low of $57.70 and a 52-week high of $91.30.

Textron (NYSE:TXT) last released its earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. Textron’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $1.54 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities analysts anticipate that Textron will post 6.12 EPS for the current fiscal year.

Insider Transactions at Textron

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the transaction, the executive vice president directly owned 37,624 shares of the company’s stock, valued at approximately $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Textron

Several large investors have recently made changes to their positions in TXT. AQR Capital Management LLC grew its position in Textron by 144.1% during the second quarter. AQR Capital Management LLC now owns 2,664,612 shares of the aerospace company’s stock valued at $213,942,000 after buying an additional 1,573,206 shares during the period. Nuveen LLC acquired a new stake in shares of Textron during the 1st quarter valued at about $89,403,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Textron in the 2nd quarter valued at about $66,446,000. Adage Capital Partners GP L.L.C. raised its holdings in Textron by 270.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,005,843 shares of the aerospace company’s stock worth $80,759,000 after purchasing an additional 734,478 shares during the period. Finally, Millennium Management LLC boosted its position in Textron by 128.7% during the first quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock worth $80,416,000 after purchasing an additional 626,346 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.