Textron (NYSE:TXT) Raised to Buy at Vertical Research

Textron (NYSE:TXT) was upgraded by stock analysts at Vertical Research from a “hold” rating to a “buy” rating in a report issued on Monday, MarketBeat reports. The brokerage currently has a $91.00 target price on the aerospace company’s stock. Vertical Research’s target price would indicate a potential upside of 20.40% from the company’s previous close.

TXT has been the topic of several other reports. Robert W. Baird dropped their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. reduced their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. UBS Group lowered their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. Finally, TD Cowen raised Textron to a “hold” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Textron Stock Up 0.2 %

Shares of TXT stock opened at $75.58 on Monday. Textron has a 52-week low of $75.00 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.46 and a beta of 1.27. The firm’s 50-day moving average is $81.73 and its 200-day moving average is $85.63.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 earnings per share. Sell-side analysts predict that Textron will post 5.52 EPS for the current year.

Institutional Investors Weigh In On Textron

A number of hedge funds have recently made changes to their positions in TXT. True Wealth Design LLC bought a new position in Textron in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new position in shares of Textron in the 3rd quarter valued at $42,000. Truvestments Capital LLC acquired a new stake in shares of Textron during the 3rd quarter valued at $43,000. Venturi Wealth Management LLC grew its position in Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 232 shares during the last quarter. Finally, Quarry LP acquired a new position in Textron in the 3rd quarter worth about $81,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.