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 report released on Monday.

Several other research analysts have also recently issued reports on the company. UBS Group lowered their price objective on Textron from $92.00 to $89.00 and set a “neutral” rating for the company in a research report on Friday. Susquehanna upped their price objective on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Morgan Stanley upped their price objective on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a research report on Friday. Finally, TD Cowen reduced their target price on Textron from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.33.

Textron Trading Up 2.1%

TXT opened at $81.13 on Monday. The business has a fifty day moving average price of $82.32 and a 200 day moving average price of $78.22. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.32 and a beta of 1.13. Textron has a 12 month low of $57.70 and a 12 month high of $89.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.08. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Textron had a return on equity of 14.16% and a net margin of 5.81%.The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 EPS. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Textron will post 6.12 earnings per share for the current fiscal year.

Institutional Trading of Textron

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXT. Cambridge Investment Research Advisors Inc. raised its stake in Textron by 31.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company’s stock valued at $2,776,000 after acquiring an additional 9,082 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Textron by 134.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,925 shares of the aerospace company’s stock valued at $139,000 after acquiring an additional 1,103 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Textron by 16.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company’s stock valued at $1,474,000 after acquiring an additional 2,803 shares during the last quarter. KBC Group NV raised its stake in Textron by 86.4% during the 1st quarter. KBC Group NV now owns 24,787 shares of the aerospace company’s stock valued at $1,791,000 after acquiring an additional 11,489 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its stake in Textron by 8.2% during the 1st quarter. WASHINGTON TRUST Co now owns 5,372 shares of the aerospace company’s stock valued at $388,000 after acquiring an additional 409 shares during 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.