Textron (NYSE:TXT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Textron (NYSE:TXT) from a hold rating to a buy rating in a research report released on Monday.

A number of other equities research analysts have also recently commented on the stock. TD Cowen reduced their target price on shares of Textron from $115.00 to $105.00 and set a “hold” rating for the company in a report on Monday, July 13th. Wells Fargo & Company began coverage on Textron in a report on Wednesday, April 1st. They set an “equal weight” rating and a $92.00 price target on the stock. Jefferies Financial Group restated a “buy” rating on shares of Textron in a research report on Sunday, May 3rd. Citigroup increased their price objective on Textron from $97.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Finally, UBS Group lifted their target price on Textron from $99.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.10.

Textron Stock Performance

Shares of TXT opened at $91.74 on Monday. The company’s 50 day simple moving average is $90.91 and its 200-day simple moving average is $91.98. The firm has a market cap of $15.95 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. Textron has a 12-month low of $75.80 and a 12-month high of $101.57. The company has a current ratio of 1.84, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 30th. The aerospace company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.30 by $0.15. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.50 billion. Textron had a net margin of 6.15% and a return on equity of 14.56%. Textron’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 EPS. Textron has set its FY 2026 guidance at 6.400-6.600 EPS. As a group, equities analysts predict that Textron will post 6.6 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were given a dividend of $0.02 per share. The ex-dividend date was Friday, June 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s payout ratio is presently 1.53%.

Insider Buying and Selling

In related news, Director R Kerry Clark sold 2,517 shares of Textron stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $93.09, for a total value of $234,307.53. Following the sale, the director directly owned 8,611 shares in the company, valued at $801,597.99. The trade was a 22.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas A. Kennedy acquired 10,300 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $95.98 per share, for a total transaction of $988,594.00. Following the acquisition, the director directly owned 20,162 shares of the company’s stock, valued at $1,935,148.76. This trade represents a 104.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Textron

Several institutional investors have recently made changes to their positions in the stock. Activest Wealth Management lifted its stake in shares of Textron by 3,255.6% in the fourth quarter. Activest Wealth Management now owns 302 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 293 shares during the period. Wilkerson Advisory Group LLC purchased a new position in shares of Textron during the 4th quarter worth approximately $26,000. Cedar Mountain Advisors LLC purchased a new position in Textron during the first quarter worth $29,000. Elyxium Wealth LLC purchased a new position in Textron during the fourth quarter worth $30,000. Finally, Strive Financial Group LLC acquired a new position in shares of Textron in the fourth quarter worth $31,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

About Textron

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.