Textron (NYSE:TXT) Cut to “Neutral” at Bank of America

Textron (NYSE:TXT) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Friday, Marketbeat.com reports. They currently have a $85.00 target price on the aerospace company’s stock, down from their prior target price of $110.00. Bank of America‘s price objective would suggest a potential upside of 8.51% from the stock’s previous close.

Several other equities analysts have also recently weighed in on TXT. Morgan Stanley dropped their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday. Barclays cut their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. TD Cowen raised shares of Textron to a “hold” rating in a report on Thursday, December 19th. UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. Finally, Susquehanna decreased their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Down 0.1 %

TXT opened at $78.33 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83. The stock has a fifty day moving average of $80.03 and a 200-day moving average of $84.96. Textron has a fifty-two week low of $74.89 and a fifty-two week high of $97.33. The company has a market capitalization of $14.53 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.27 and a beta of 1.27.

Textron (NYSE:TXT) last posted its quarterly earnings data 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. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3,778,060 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities analysts expect that Textron will post 6.15 EPS for the current year.

Hedge Funds Weigh In On Textron

A number of institutional investors and hedge funds have recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in shares of Textron during the third quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in Textron during the 3rd quarter worth approximately $42,000. Eastern Bank bought a new stake in Textron during the 4th quarter worth approximately $42,000. Truvestments Capital LLC acquired a new position in Textron in the 3rd quarter valued at approximately $43,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.