Textron (NYSE:TXT) Hits New 12-Month High – Time to Buy?

Textron Inc. (NYSE:TXT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $95.28 and last traded at $95.4450, with a volume of 167036 shares. The stock had previously closed at $93.16.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TXT. Wall Street Zen raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 27th. Weiss Ratings upgraded Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Freedom Capital upgraded Textron to a “strong-buy” rating in a report on Friday, January 16th. Jefferies Financial Group restated a “buy” rating and set a $115.00 target price on shares of Textron in a report on Thursday, January 15th. Finally, Susquehanna reissued a “positive” rating and set a $110.00 price target on shares of Textron in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.33.

Textron Stock Performance

The company has a market capitalization of $16.69 billion, a PE ratio of 20.81, a P/E/G ratio of 1.41 and a beta of 1.00. The stock’s 50-day simple moving average is $86.85 and its 200 day simple moving average is $83.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.84.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Textron had a net margin of 5.81% and a return on equity of 14.16%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the firm posted $1.40 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, research analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Textron

Several institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its stake in shares of Textron by 388.5% in the 3rd quarter. True Wealth Design LLC now owns 298 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 237 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Textron by 191.9% during the second quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 213 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Textron in the 2nd quarter valued at $27,000. Quent Capital LLC acquired a new position in Textron in the 3rd quarter valued at $33,000. Finally, Accredited Wealth Management LLC raised its position in Textron by 804.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 452 shares of the aerospace company’s stock worth $38,000 after buying an additional 402 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.