Textron (NYSE:TXT) Stock Rating Upgraded by Vertical Research

Textron (NYSE:TXT) was upgraded by equities research analysts at Vertical Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm currently has a $50.00 price objective on the aerospace company’s stock. Vertical Research’s price target would indicate a potential upside of 43.10% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Alembic Global Advisors cut shares of Textron from an “overweight” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Monday, April 13th. Cowen reaffirmed a “buy” rating and issued a $39.00 price target on shares of Textron in a research report on Thursday. JPMorgan Chase & Co. cut shares of Textron from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $32.00 to $30.00 in a research report on Friday, May 1st. ValuEngine raised shares of Textron from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Credit Suisse Group lowered their price target on shares of Textron from $51.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.10.

Shares of TXT stock opened at $34.94 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.98 and a quick ratio of 1.10. The company has a market capitalization of $7.99 billion, a P/E ratio of 21.31, a P/E/G ratio of 8.93 and a beta of 1.67. The company’s 50-day simple moving average is $33.35 and its two-hundred day simple moving average is $34.37. Textron has a one year low of $20.26 and a one year high of $52.87.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 30th. The aerospace company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.28. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.30 billion. Textron had a net margin of 3.01% and a return on equity of 10.60%. The company’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. On average, research analysts expect that Textron will post 1.39 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Rocky Mountain Advisers LLC raised its holdings in shares of Textron by 105.5% in the second quarter. Rocky Mountain Advisers LLC now owns 822 shares of the aerospace company’s stock worth $27,000 after buying an additional 422 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Textron by 218.6% in the first quarter. Parallel Advisors LLC now owns 1,131 shares of the aerospace company’s stock worth $30,000 after buying an additional 776 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Textron by 72.0% in the first quarter. Signaturefd LLC now owns 1,206 shares of the aerospace company’s stock worth $32,000 after buying an additional 505 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Textron by 40.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,363 shares of the aerospace company’s stock worth $36,000 after buying an additional 394 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of Textron by 2,286.2% in the first quarter. Flagship Harbor Advisors LLC now owns 1,384 shares of the aerospace company’s stock worth $37,000 after buying an additional 1,326 shares during the last quarter. 82.77% of the stock is owned by institutional investors.

About Textron

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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Analyst Recommendations for Textron (NYSE:TXT)

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