Textron (NYSE:TXT) Upgraded by Vertical Research to Buy Rating

Vertical Research upgraded shares of Textron (NYSE:TXT) from a hold rating to a buy rating in a report issued on Monday, Marketbeat.com reports. They currently have $91.00 target price on the aerospace company’s stock.

A number of other brokerages also recently issued reports on TXT. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. Barclays cut their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, TD Cowen upgraded Textron to a “hold” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Textron Stock Down 0.5 %

NYSE:TXT opened at $75.35 on Monday. The firm has a 50-day simple moving average of $81.85 and a two-hundred day simple moving average of $85.71. The firm has a market cap of $13.98 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.46 and a beta of 1.27. Textron has a fifty-two week low of $75.09 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

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

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend was Friday, December 13th. Textron’s payout ratio is 1.76%.

Hedge Funds Weigh In On Textron

A number of hedge funds have recently modified their holdings of TXT. Brandes Investment Partners LP raised its position in shares of 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 purchasing an additional 258,778 shares during the period. AQR Capital Management LLC raised its holdings in Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after acquiring an additional 231,173 shares during the period. Fidelity National Financial Inc. bought a new stake in Textron during the second quarter valued at about $19,748,000. Distillate Capital Partners LLC lifted its position in shares of Textron by 101,299.4% in the second quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock valued at $14,278,000 after acquiring an additional 166,131 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after purchasing an additional 160,923 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.