Textron Inc. (NYSE:TXT) has been assigned a consensus rating of “Buy” from the fourteen research firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $69.00.
TXT has been the topic of several research reports. ValuEngine upgraded shares of Textron from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. TheStreet downgraded shares of Textron from a “b” rating to a “c+” rating in a report on Friday, January 4th. Susquehanna Bancshares initiated coverage on shares of Textron in a report on Thursday, January 10th. They issued a “neutral” rating and a $52.00 price target on the stock. Morgan Stanley cut their price target on shares of Textron from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 14th. Finally, Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a report on Saturday, November 17th.
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A number of large investors have recently modified their holdings of TXT. Oregon Public Employees Retirement Fund boosted its position in Textron by 4,444.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,274,199 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 1,246,159 shares in the last quarter. Essex Savings Bank purchased a new stake in Textron in the 4th quarter worth approximately $29,000. CWM LLC boosted its position in Textron by 38.6% in the 4th quarter. CWM LLC now owns 970 shares of the aerospace company’s stock worth $45,000 after purchasing an additional 270 shares in the last quarter. Intercontinental Wealth Advisors LLC purchased a new stake in Textron in the 4th quarter worth approximately $61,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Textron in the 4th quarter worth approximately $63,000. Institutional investors own 81.41% of the company’s stock.
Shares of TXT traded up $0.39 during mid-day trading on Wednesday, hitting $54.99. 1,346,020 shares of the company traded hands, compared to its average volume of 1,984,677. Textron has a 1-year low of $43.27 and a 1-year high of $72.87. The company has a quick ratio of 1.05, a current ratio of 2.14 and a debt-to-equity ratio of 0.68. The company has a market cap of $12.81 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.19 and a beta of 1.71.
Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, January 24th. The aerospace company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.17. Textron had a net margin of 8.75% and a return on equity of 15.51%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts anticipate that Textron will post 3.66 EPS for the current fiscal year.
Textron Company Profile
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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