Textron (NYSE:TXT) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Textron (NYSE:TXT) from a strong-buy rating to a buy rating in a research report released on Saturday.

A number of other brokerages have also recently weighed in on TXT. UBS Group upped their price objective on Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a research note on Monday, April 28th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $85.00 price target (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Morgan Stanley increased 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. Jefferies Financial Group reiterated a “buy” rating and issued a $95.00 price target (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Citigroup decreased their price target on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Textron presently has a consensus rating of “Hold” and a consensus target price of $89.75.

Textron Trading Down 1.8%

Shares of NYSE TXT opened at $79.45 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.68 and a quick ratio of 0.83. The stock has a market capitalization of $14.34 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.29 and a beta of 1.17. Textron has a 1-year low of $57.70 and a 1-year high of $93.98. The business has a fifty day moving average price of $78.99 and a 200 day moving average price of $74.70.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 EPS. Equities research analysts expect that Textron will post 6.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock worth $46,137,000 after purchasing an additional 201,696 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Textron by 31.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company’s stock worth $2,776,000 after purchasing an additional 9,082 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Textron by 8.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 302,603 shares of the aerospace company’s stock worth $22,916,000 after acquiring an additional 24,053 shares during the period. Graham Capital Management L.P. grew its holdings in Textron by 166.8% during the fourth quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company’s stock worth $5,125,000 after acquiring an additional 41,888 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Textron by 12.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 89,780 shares of the aerospace company’s stock worth $6,867,000 after acquiring an additional 9,807 shares during the period. 86.03% of the stock is currently 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.