In a report released yesterday, Noah Poponak from Goldman Sachs maintained a Buy rating on Textron (TXT – Research Report). The company’s shares closed yesterday at $85.55.
Poponak covers the Industrials sector, focusing on stocks such as Boeing, Textron, and Woodward. According to TipRanks, Poponak has an average return of -0.7% and a 46.23% success rate on recommended stocks.
Currently, the analyst consensus on Textron is a Strong Buy with an average price target of $89.57.
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Based on Textron’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $14.5 billion and a net profit of $269 million. In comparison, last year the company earned a revenue of $3.08 billion and had a net profit of $225 million
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TXT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Textron (TXT) Company Description:
Textron, Inc. is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance. The Textron Aviation segment manufactures sells, and services Beechcraft and Cessna aircraft. The Bell segment supplies military and commercial helicopters, tiltrotor aircraft, and related spare parts. The Textron Systems segment product lines consist of unmanned aircraft systems; land and marine systems; weapons and sensors; and a variety of defense and aviation mission support products and services. The Industrial segment designs and manufactures a variety of products under the Golf; Turf Care and Light Transportation Vehicles; Fuel Systems and Functional Components and Powered Tools; and Testing and Measurement Equipment product lines. The Finance segment consists of Textron Financial Corp. and its consolidated subsidiaries, which provides finances primarily to purchasers of new Cessna aircraft and Bell helicopters. The company founded by Royal Little in 1923 and is headquartered in Providence, RI.
Read More on TXT:
- TXT Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Textron price target raised to $95 from $90 at Barclays
- Textron upgraded to Conviction Buy from Buy at Goldman Sachs
- M & A News: Bezos’ Blue Origin Competes to Acquire Musk’s SpaceX Rival
- Textron price target raised to $90 from $88 at Morgan Stanley
