Textron (NYSE:TXT) Downgraded by StockNews.com

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

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

Textron Stock Up 1.9 %

Shares of NYSE TXT opened at $86.51 on Friday. The company has a 50 day simple moving average of $92.10 and a 200 day simple moving average of $83.93. The firm has a market cap of $16.64 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30. Textron has a 1 year low of $61.27 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.66 and a quick ratio of 1.03.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter last year, the business earned $1.05 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that Textron will post 6.29 EPS for the current year.

Textron Dividend Announcement

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

Institutional Trading of Textron

Hedge funds have recently bought and sold shares of the business. CVA Family Office LLC acquired a new stake in Textron in the 4th quarter valued at $29,000. Trust Co. of Vermont acquired a new stake in Textron in the 3rd quarter valued at $37,000. Global Retirement Partners LLC grew its position in Textron by 393.9% in the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 390 shares during the period. Morton Brown Family Wealth LLC acquired a new stake in Textron in the 4th quarter valued at $40,000. Finally, Provence Wealth Management Group acquired a new stake in Textron in the 3rd quarter valued at $39,000. Institutional investors and hedge funds 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.