Jefferies Group Reaffirms Buy Rating for Textron (NYSE:TXT)

Textron (NYSE:TXT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group in a research report issued on Sunday, February 4th. They currently have a $74.00 price objective on the aerospace company’s stock. Jefferies Group’s target price points to a potential upside of 27.59% from the company’s previous close. Jefferies Group also issued estimates for Textron’s Q1 2018 earnings at $0.54 EPS, Q2 2018 earnings at $0.69 EPS, Q3 2018 earnings at $0.73 EPS, Q4 2018 earnings at $1.04 EPS, FY2018 earnings at $3.00 EPS, FY2019 earnings at $3.45 EPS and FY2020 earnings at $3.60 EPS.

Several other analysts have also recently weighed in on the stock. Cowen reaffirmed a “buy” rating and set a $60.00 price objective on shares of Textron in a research note on Tuesday, November 28th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Citigroup upped their target price on shares of Textron from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Stephens reiterated an “equal weight” rating and set a $63.00 target price (up from $54.00) on shares of Textron in a research report on Friday, October 13th. Finally, Morgan Stanley upgraded shares of Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 price objective on the stock in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Textron presently has an average rating of “Hold” and a consensus target price of $60.50.

Textron (TXT) traded up $0.45 during trading on Friday, reaching $58.00. 459,334 shares of the company’s stock were exchanged, compared to its average volume of 1,489,949. The firm has a market cap of $15,159.84, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 1.92. Textron has a 52-week low of $45.00 and a 52-week high of $62.19.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 31st. The aerospace company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.03). The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.06 billion. Textron had a net margin of 2.16% and a return on equity of 11.58%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 EPS. analysts forecast that Textron will post 3.06 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Thrivent Financial For Lutherans increased its position in shares of Textron by 1.1% during the second quarter. Thrivent Financial For Lutherans now owns 10,040 shares of the aerospace company’s stock worth $473,000 after acquiring an additional 110 shares in the last quarter. Sentry Investment Management LLC grew its position in Textron by 1.1% in the second quarter. Sentry Investment Management LLC now owns 17,662 shares of the aerospace company’s stock valued at $832,000 after purchasing an additional 187 shares in the last quarter. Flinton Capital Management LLC grew its position in Textron by 2.7% in the second quarter. Flinton Capital Management LLC now owns 12,750 shares of the aerospace company’s stock valued at $600,000 after purchasing an additional 340 shares in the last quarter. Aperio Group LLC grew its position in Textron by 0.8% in the fourth quarter. Aperio Group LLC now owns 112,996 shares of the aerospace company’s stock valued at $6,394,000 after purchasing an additional 911 shares in the last quarter. Finally, Keybank National Association OH grew its position in Textron by 3.8% in the fourth quarter. Keybank National Association OH now owns 29,168 shares of the aerospace company’s stock valued at $1,651,000 after purchasing an additional 1,065 shares in the last quarter. 82.09% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Textron (NYSE:TXT)

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