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

by · The Markets Daily

Wall Street Zen lowered shares of Textron (NYSE:TXTFree Report) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday.

TXT has been the topic of several other research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $85.00 target price (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Susquehanna raised their target price on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Finally, UBS Group raised Textron from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $88.00 in a research note on Monday, July 28th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $92.45.

Read Our Latest Report on TXT

Textron Stock Down 0.4%

Shares of TXT opened at $81.31 on Friday. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron has a 12 month low of $57.70 and a 12 month high of $91.30. The stock’s 50 day moving average is $82.09 and its two-hundred day moving average is $77.53. The firm has a market cap of $14.49 billion, a P/E ratio of 18.40, a PEG ratio of 1.32 and a beta of 1.13.

Textron (NYSE:TXTGet Free Report) last issued its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%.Textron’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts predict that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, September 12th. Textron’s payout ratio is presently 1.81%.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the business’s stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Institutional Trading of Textron

Institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Textron by 31.0% in 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 purchasing an additional 9,082 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. LPL Financial LLC raised its stake in Textron by 4.9% during the 1st quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company’s stock valued at $6,483,000 after acquiring an additional 4,204 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Textron during the 1st quarter valued at approximately $545,000. Finally, TD Asset Management Inc raised its stake in Textron by 2.2% during the 1st quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company’s stock valued at $69,776,000 after acquiring an additional 20,733 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Company Profile

(Get Free Report)

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.

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