ValuEngine upgraded shares of Textron Inc. (NYSE:TXT) from a hold rating to a buy rating in a research note issued to investors on Friday.

Several other equities analysts have also weighed in on the company. Morgan Stanley lifted their price target on Textron from $45.00 to $47.00 and gave the company an underweight rating in a research note on Thursday, August 17th. BidaskClub lowered Textron from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Wells Fargo & Company restated an outperform rating and issued a $54.00 price target (up previously from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Bank of America Corporation lowered Textron from a buy rating to an underperform rating and cut their price target for the company from $53.00 to $45.00 in a research note on Friday, July 21st. Finally, Credit Suisse Group restated an outperform rating and issued a $55.00 price target (up previously from $50.00) on shares of Textron in a research note on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $53.42.

Shares of Textron (NYSE TXT) opened at 51.19 on Friday. The company’s 50 day moving average price is $48.75 and its 200 day moving average price is $47.72. The stock has a market cap of $13.55 billion, a PE ratio of 15.65 and a beta of 1.56. Textron has a 52-week low of $37.19 and a 52-week high of $51.19.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business earned $0.66 EPS. Textron’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Textron will post $2.53 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.16%. Textron’s dividend payout ratio (DPR) is currently 2.45%.

Large investors have recently bought and sold shares of the business. MRJ Capital Inc. purchased a new stake in Textron during the 2nd quarter worth approximately $3,589,000. Bank of Nova Scotia grew its position in shares of Textron by 939.6% in the first quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock valued at $2,937,000 after purchasing an additional 55,782 shares in the last quarter. Airain ltd purchased a new stake in shares of Textron in the second quarter valued at approximately $2,608,000. Highbridge Capital Management LLC grew its position in shares of Textron by 153.1% in the first quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock valued at $253,000 after purchasing an additional 15,308 shares in the last quarter. Finally, Mason Street Advisors LLC grew its position in shares of Textron by 1.0% in the first quarter. Mason Street Advisors LLC now owns 37,324 shares of the aerospace company’s stock valued at $1,776,000 after purchasing an additional 361 shares in the last quarter. Institutional investors own 81.50% of the company’s stock.

Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Textron (NYSE:TXT)

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