Textron (NYSE:TXT) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Textron (NYSE:TXT) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.

TXT has been the topic of several other reports. Citigroup raised their price objective on Textron from $111.00 to $115.00 and gave the company a buy rating in a research note on Monday, July 22nd. Morgan Stanley cut Textron from an overweight rating to an equal weight rating and set a $95.00 target price on the stock. in a research note on Thursday, August 8th. Bank of America lifted their target price on Textron from $105.00 to $110.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. TD Cowen lifted their target price on Textron from $100.00 to $103.00 and gave the stock a buy rating in a research note on Friday, July 19th. Finally, UBS Group lifted their target price on Textron from $84.00 to $87.00 and gave the stock a sell rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $102.50.

Textron Price Performance

Shares of NYSE:TXT opened at $85.71 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $88.54 and its two-hundred day simple moving average is $89.31. Textron has a 1-year low of $74.13 and a 1-year high of $97.33. The stock has a market cap of $16.34 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period last year, the business earned $1.46 EPS. The business’s revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that Textron will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio is currently 1.71%.

Institutional Investors Weigh In On Textron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its stake in Textron by 1.4% in the 1st quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock valued at $682,475,000 after acquiring an additional 99,868 shares during the period. LSV Asset Management grew its holdings in Textron by 6.9% during the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after buying an additional 260,003 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Textron by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after buying an additional 160,923 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Textron by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock valued at $136,085,000 after buying an additional 19,769 shares in the last quarter. Finally, Brandes Investment Partners LP grew its holdings in Textron by 20.0% during the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after buying an additional 258,778 shares in the last quarter. 86.03% of the stock is currently owned by 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.