Textron (NYSE:TXT) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Textron (NYSE:TXT) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

Several other equities analysts have also recently weighed in on TXT. Citigroup raised their price objective on Textron from $104.00 to $111.00 and gave the company a buy rating in a research note on Thursday, April 4th. Bank of America upgraded Textron from a neutral rating to a buy rating and raised their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Susquehanna dropped their price objective on Textron from $110.00 to $105.00 and set a positive rating on the stock in a research note on Friday. UBS Group lifted their target price on Textron from $77.00 to $81.00 and gave the stock a sell rating in a research note on Friday, January 26th. Finally, The Goldman Sachs Group lifted their target price on Textron from $103.00 to $120.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $95.63.

Textron Price Performance

Shares of TXT opened at $86.51 on Friday. Textron has a 12-month low of $61.27 and a 12-month high of $97.33. The business’s fifty day moving average is $92.10 and its 200 day moving average is $83.86. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.41. The stock has a market cap of $16.64 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.33 and a beta of 1.30.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter last year, the business posted $1.05 earnings per share. Textron’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that Textron will post 6.3 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s dividend payout ratio (DPR) is currently 1.71%.

Institutional Investors Weigh In On Textron

Large investors have recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its holdings in Textron by 12.8% in the 3rd quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock worth $796,000 after acquiring an additional 1,158 shares during the last quarter. LSV Asset Management increased its holdings in Textron by 7.6% in the 3rd quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock worth $255,656,000 after acquiring an additional 230,560 shares during the last quarter. Deutsche Bank AG increased its holdings in Textron by 36.9% in the 3rd quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock worth $42,367,000 after acquiring an additional 146,055 shares during the last quarter. AustralianSuper Pty Ltd increased its holdings in Textron by 13.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after acquiring an additional 11,510 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Textron by 269.1% in the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after acquiring an additional 15,235 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.