Textron (NYSE:TXT) Stock Rating Lowered by Bank of America

Textron (NYSE:TXT) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat reports. They currently have a $85.00 price target on the aerospace company’s stock, down from their previous price target of $110.00. Bank of America‘s price objective points to a potential upside of 8.51% from the company’s previous close.

Several other research firms have also recently commented on TXT. TD Cowen upgraded Textron to a “hold” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Susquehanna decreased their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Citigroup cut their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Robert W. Baird reduced their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Stock Down 0.1 %

Shares of TXT stock opened at $78.33 on Friday. Textron has a 12-month low of $74.89 and a 12-month high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $80.03 and a 200-day moving average of $84.96. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.27 and a beta of 1.27.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3,778,060 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. As a group, equities research analysts predict that Textron will post 6.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TXT. Brandes Investment Partners LP raised its stake in Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after acquiring an additional 258,778 shares during the period. AQR Capital Management LLC increased its holdings in shares of Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after purchasing an additional 231,173 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of Textron by 1,839.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 162,955 shares of the aerospace company’s stock valued at $13,991,000 after purchasing an additional 154,555 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Textron during the 4th quarter worth about $11,523,000. Finally, National Bank of Canada FI boosted its holdings in shares of Textron by 161.8% during the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock worth $12,860,000 after buying an additional 89,724 shares during the period. 86.03% of the stock is currently owned by institutional investors.

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.