Wall Street Zen Downgrades Textron (NYSE:TXT) to Buy

Textron (NYSE:TXT) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

A number of other analysts also recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Textron in a research note on Wednesday, October 8th. UBS Group upgraded shares of Textron from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $88.00 in a research report on Monday, July 28th. Morgan Stanley boosted their target price on shares of Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Finally, Susquehanna upped their price target on shares of Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.45.

Textron Stock Up 1.2%

Shares of NYSE:TXT opened at $82.35 on Friday. The firm has a market cap of $14.68 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.32 and a beta of 1.13. Textron has a 12-month low of $57.70 and a 12-month high of $91.30. The business has a fifty day simple moving average of $82.19 and a 200 day simple moving average of $77.69. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%.The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts predict that Textron will post 6.12 earnings per share for the current year.

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the transaction, the executive vice president directly owned 37,624 shares of the company’s stock, valued at approximately $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Textron

Several large investors have recently added to or reduced their stakes in TXT. Assetmark Inc. raised its stake in shares of Textron by 191.9% in the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 213 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Textron during the second quarter worth $27,000. Banque Cantonale Vaudoise bought a new stake in Textron during the first quarter worth $25,000. Private Trust Co. NA raised its position in Textron by 155.6% in the 3rd quarter. Private Trust Co. NA now owns 460 shares of the aerospace company’s stock valued at $39,000 after buying an additional 280 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in Textron during the 2nd quarter valued at $41,000. 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.