Textron (NYSE:TXT) Upgraded to “Buy” at Vertical Research

Textron (NYSE:TXT) was upgraded by analysts at Vertical Research from a “hold” rating to a “buy” rating in a research report issued on Monday,Briefing.com Automated Import reports. The firm currently has a $91.00 price objective on the aerospace company’s stock. Vertical Research’s price target would suggest a potential upside of 18.83% from the company’s previous close.

A number of other equities analysts have also commented on the company. TD Cowen raised Textron to a “hold” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Barclays reduced their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Robert W. Baird lowered their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, UBS Group decreased their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Textron Price Performance

NYSE TXT opened at $76.58 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The company has a market cap of $14.21 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. Textron has a 52 week low of $75.09 and a 52 week high of $97.33. The firm’s 50-day simple moving average is $82.01 and its two-hundred day simple moving average is $85.78.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXT. True Wealth Design LLC bought a new stake in Textron during the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of Textron during the 3rd quarter valued at about $42,000. Truvestments Capital LLC purchased a new position in shares of Textron during the 3rd quarter valued at about $43,000. Venturi Wealth Management LLC lifted its position in Textron by 69.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after buying an additional 232 shares during the last quarter. Finally, Trust Co. of Vermont boosted its stake in Textron by 94.7% in the third quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock worth $81,000 after buying an additional 445 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other 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.