Textron (NYSE:TXT) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Textron (NYSE:TXT) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday.

TXT has been the topic of several other reports. Morgan Stanley boosted their price objective on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Barclays boosted their price objective on Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. UBS Group raised Textron from a “sell” rating to a “neutral” rating and upped their target price for the company from $73.00 to $88.00 in a research note on Monday, July 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Finally, Susquehanna upped their target price on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research note 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’s stock. Based on data from MarketBeat, Textron has an average rating of “Hold” and a consensus price target of $92.45.

Textron Trading Up 0.7%

Shares of NYSE TXT opened at $83.02 on Friday. The business’s 50 day moving average is $82.28 and its two-hundred day moving average is $77.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. Textron has a 1-year low of $57.70 and a 1-year high of $89.28. The stock has a market capitalization of $14.79 billion, a P/E ratio of 18.78, a PEG ratio of 1.34 and a beta of 1.13.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, research analysts expect that Textron will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio is 1.81%.

Insider Transactions at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the transaction, the executive vice president owned 37,624 shares of the company’s stock, valued at $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in Textron during the first quarter worth $25,000. True Wealth Design LLC lifted its holdings in Textron by 388.5% during the third quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock worth $25,000 after buying an additional 237 shares during the period. Assetmark Inc. lifted its holdings in Textron by 191.9% during the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock worth $26,000 after buying an additional 213 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Textron during the second quarter worth $27,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Textron by 100.0% during the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock worth $39,000 after buying an additional 262 shares during the period. Institutional investors own 86.03% of the company’s stock.

Textron Company Profile

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.