The stock of Textron Inc. (NYSE:TXT) hit a new 52-week high and has $48.43 target or 6.00% above today’s $45.69 share price. The 5 months bullish chart indicates low risk for the $12.50B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $48.43 price target is reached, the company will be worth $750.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 252,988 shares traded hands. Textron Inc. (NYSE:TXT) has risen 15.08% since April 22, 2016 and is uptrending. It has outperformed by 9.67% the S&P500.
Analysts await Textron Inc. (NYSE:TXT) to report earnings on January, 25. They expect $0.84 EPS, up 3.70% or $0.03 from last year’s $0.81 per share. TXT’s profit will be $229.81M for 13.60 P/E if the $0.84 EPS becomes a reality. After $0.61 actual EPS reported by Textron Inc. for the previous quarter, Wall Street now forecasts 37.70% EPS growth.
Textron Inc. (NYSE:TXT) Ratings Coverage
Out of 9 analysts covering Textron (NYSE:TXT), 7 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 78% are positive. Textron has been the topic of 11 analyst reports since September 2, 2015 according to StockzIntelligence Inc. The stock of Textron Inc. (NYSE:TXT) earned “Buy” rating by Citigroup on Wednesday, September 2. The stock of Textron Inc. (NYSE:TXT) has “Underweight” rating given on Thursday, June 23 by Morgan Stanley. The stock has “Outperform” rating given by RBC Capital Markets on Thursday, January 28. Drexel Hamilton downgraded the shares of TXT in a report on Thursday, January 28 to “Hold” rating. As per Wednesday, September 9, the company rating was maintained by Cowen & Co. JP Morgan upgraded Textron Inc. (NYSE:TXT) on Wednesday, December 16 to “Overweight” rating. The firm earned “Outperform” rating on Thursday, October 6 by Robert W. Baird.
According to Zacks Investment Research, “Textron, Inc. is a global multi-industry company with operations in five business segments – Aircraft, Fastening Systems, Industrial Components, Industrial Products and Finance. The company’s products include commercial and military helicopters, light and mid-size business jets, plastic fuel tanks, automotive trim products, golf cars and utility vehicles, turf-care equipment, industrial pumps and gears, engineered fastening systems and solutions, and other industrial products. It also is a commercial finance company for select markets.”
Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.10, from 0.98 in 2016Q1. The ratio dropped, as 30 funds sold all Textron Inc. shares owned while 125 reduced positions. 44 funds bought stakes while 108 increased positions. They now own 216.35 million shares or 0.47% more from 215.34 million shares in 2016Q1.
Bessemer Grp Inc holds 0% or 240 shares in its portfolio. Cornerstone Mgmt Lc last reported 0.04% of its portfolio in the stock. Visium Asset Lp holds 0.19% or 72,892 shares in its portfolio. Cullen Frost Bankers Inc holds 11,932 shares or 0.02% of its portfolio. Moreover, Veritable Lp has 0.01% invested in Textron Inc. (NYSE:TXT) for 12,428 shares. Aperio Ltd Com reported 90,998 shares or 0.03% of all its holdings. Amalgamated National Bank reported 16,194 shares or 0.04% of all its holdings. Teachers Retirement System Of The State Of Kentucky last reported 0.02% of its portfolio in the stock. Boston Advisors Ltd holds 0.22% of its portfolio in Textron Inc. (NYSE:TXT) for 237,082 shares. The New York-based Estabrook Mngmt has invested 0% in Textron Inc. (NYSE:TXT). Airain holds 18,315 shares or 0.04% of its portfolio. First Tru Lp owns 382,604 shares or 0.04% of their US portfolio. Cranbrook Wealth Mngmt Llc has 800 shares for 0.01% of their US portfolio. Herndon Capital Mgmt Llc holds 0% of its portfolio in Textron Inc. (NYSE:TXT) for 25 shares. Blackrock Inc has 0.04% invested in the company for 774,101 shares.
Another recent and important Textron Inc. (NYSE:TXT) news was published by Investorplace.com which published an article titled: “Trade of the Day: Textron Inc. (TXT) Aiming for Military Growth” on November 14, 2016.
TXT Company Profile
Textron Inc., incorporated on July 31, 1967, is a multi-industry firm engaged in aircraft, defense, industrial and finance businesses to provide clients with services and products across the world. The Firm operates through five divisions: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Company’s Textron Aviation segment is engaged in general aviation. The Company’s Industrial segment represents its manufacturing businesses. The Company’s Finance segment represents its finance business.
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