Textron (TXT) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Textron (NYSE:TXT) from a sell rating to a hold rating in a report published on Friday.

According to Zacks, “Textron is known globally for its most recognizable and valuable brand names, such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, E-Z-GO and Greenlee. Its geographically diverse network of aircraft, defense & intelligence, industrial and finance businesses negates any specific business risk. The company is known to acquire assets in the same line of business as its own, thus helping it to expand its core offerings. However, shares of Textron have returned lower than the industry in last one year. Textron’s Aviation segment has been exhibiting weak performance due to lack of orders for a few of its products. Also, the company needs to increase investments to stay afloat in a highly competitive aerospace and defense market.”

Other equities analysts have also recently issued research reports about the company. Stephens set a $65.00 target price on Textron and gave the company a hold rating in a research note on Thursday. Cowen reaffirmed a buy rating and set a $70.00 target price on shares of Textron in a research note on Monday, January 8th. ValuEngine raised Textron from a hold rating to a buy rating in a research note on Sunday, December 31st. Jefferies Group reaffirmed a buy rating and set a $65.00 target price on shares of Textron in a research note on Friday, October 20th. Finally, Credit Suisse Group lowered their target price on Textron from $61.00 to $59.00 and set an outperform rating on the stock in a research note on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Textron presently has a consensus rating of Hold and a consensus target price of $58.91.

Shares of Textron (TXT) traded up $1.06 on Friday, reaching $60.15. The company had a trading volume of 1,214,000 shares, compared to its average volume of 1,195,200. The stock has a market cap of $15,840.00, a PE ratio of 25.93, a P/E/G ratio of 2.44 and a beta of 1.57. Textron has a 1 year low of $43.66 and a 1 year high of $60.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.08 and a quick ratio of 0.96.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. Textron’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. equities analysts anticipate that Textron will post 2.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 15th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.08 annualized dividend and a yield of 0.13%. Textron’s dividend payout ratio (DPR) is presently 3.45%.

Several institutional investors have recently made changes to their positions in the company. Franklin Street Advisors Inc. NC acquired a new stake in shares of Textron during the 4th quarter valued at about $207,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Textron by 20.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 575,945 shares of the aerospace company’s stock valued at $31,032,000 after buying an additional 99,183 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Textron during the 3rd quarter valued at about $110,000. IFM Investors Pty Ltd acquired a new stake in shares of Textron during the 3rd quarter valued at about $501,000. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Textron by 13.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,886,812 shares of the aerospace company’s stock valued at $263,302,000 after buying an additional 563,037 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

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About Textron

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.

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