Textron (NYSE:TXT) Raised to Strong-Buy at Wall Street Zen

Textron (NYSE:TXT) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

A number of other research firms also recently commented on TXT. Morgan Stanley lifted their target price on Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. UBS Group reduced their target price on Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a research report on Friday. Barclays lifted their target price on Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Susquehanna lifted their target price on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, TD Cowen reduced their target price on Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.33.

Textron Stock Performance

Shares of Textron stock opened at $81.13 on Monday. Textron has a one year low of $57.70 and a one year high of $89.28. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.32 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.84. The business’s 50 day moving average price is $82.32 and its 200 day moving average price is $78.22.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Textron had a return on equity of 14.16% and a net margin of 5.81%.The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the business posted $1.40 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, research analysts predict that Textron will post 6.12 EPS for the current year.

Institutional Investors Weigh In On Textron

Several institutional investors and hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of Textron by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,410,481 shares of the aerospace company’s stock valued at $824,408,000 after buying an additional 76,972 shares during the period. State Street Corp grew its stake in Textron by 2.5% during the 2nd quarter. State Street Corp now owns 9,007,450 shares of the aerospace company’s stock worth $723,384,000 after purchasing an additional 217,401 shares in the last quarter. Invesco Ltd. grew its stake in Textron by 5.6% during the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company’s stock worth $590,059,000 after purchasing an additional 433,567 shares in the last quarter. Boston Partners grew its stake in Textron by 1.5% during the 2nd quarter. Boston Partners now owns 7,190,786 shares of the aerospace company’s stock worth $577,304,000 after purchasing an additional 109,277 shares in the last quarter. Finally, LSV Asset Management grew its stake in Textron by 7.2% during the 2nd quarter. LSV Asset Management now owns 4,153,321 shares of the aerospace company’s stock worth $333,470,000 after purchasing an additional 279,237 shares in the last quarter. Hedge funds and other institutional investors 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.