Today’s Price Action: Can Textron Inc.’s Tomorrow be Different? The Stock Declines Again

Today's Price Action: Can Textron Inc.'s Tomorrow be Different? The Stock Declines Again

The stock of Textron Inc. (NYSE:TXT) is a huge mover today! About 1.22M shares traded hands or 11.93% up from the average. Textron Inc. (NYSE:TXT) has risen 20.94% since March 4, 2016 and is uptrending. It has outperformed by 12.90% the S&P500.
The move comes after 7 months negative chart setup for the $10.42 billion company. It was reported on Oct, 7 by Barchart.com. We have $35.31 PT which if reached, will make NYSE:TXT worth $833.60M less.

Analysts await Textron Inc. (NYSE:TXT) to report earnings on October, 25. They expect $0.65 earnings per share, up 3.17% or $0.02 from last year’s $0.63 per share. TXT’s profit will be $176.47M for 14.76 P/E if the $0.65 EPS becomes a reality. After $0.66 actual earnings per share reported by Textron Inc. for the previous quarter, Wall Street now forecasts -1.52% negative 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 firm earned “Overweight” rating on Wednesday, December 16 by JP Morgan. The stock of Textron Inc. (NYSE:TXT) has “Outperform” rating given on Thursday, October 6 by Robert W. Baird. The stock of Textron Inc. (NYSE:TXT) has “Outperform” rating given on Wednesday, September 9 by Cowen & Co. The stock of Textron Inc. (NYSE:TXT) earned “Buy” rating by Citigroup on Wednesday, September 2. Morgan Stanley initiated the stock with “Underweight” rating in Thursday, June 23 report. Drexel Hamilton downgraded Textron Inc. (NYSE:TXT) on Thursday, January 28 to “Hold” rating. RBC Capital Markets maintained it with “Outperform” rating and $47 target price in Thursday, January 28 report.

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 increased to 0.98 in 2016 Q2. Its up 0.15, from 0.83 in 2016Q1. The ratio is positive, 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.
The California-based Schwab Charles Management has invested 0.04% in Textron Inc. (NYSE:TXT). Scout holds 574,258 shares or 0.58% of its portfolio. Norinchukin Retail Bank The accumulated 0.01% or 14,101 shares. Millennium Management Lc accumulated 0.04% or 443,058 shares. New York State Common Retirement Fund accumulated 703,196 shares or 0.04% of the stock. Adage Capital Prtn Ltd Liability Company holds 637,285 shares or 0.06% of its portfolio. Independent Consultants last reported 4,725 shares in the company. Connor Clark & Lunn Mngmt Ltd has 0.02% invested in the company for 65,700 shares. Brandywine Glob Invest Mngmt Ltd Llc holds 0.06% or 248,383 shares in its portfolio. Dai Ichi Life Limited holds 0.01% of its portfolio in Textron Inc. (NYSE:TXT) for 5,751 shares. Valley National Advisers accumulated 0% or 155 shares. World Asset Mngmt holds 26,636 shares or 0.04% of its portfolio. Oakbrook Invests Limited Liability accumulated 30,250 shares or 0.06% of the stock. Blackrock Group Ltd accumulated 0.03% or 1.75 million shares. Ladenburg Thalmann Financial reported 12,130 shares or 0.01% of all its holdings.

More news for Textron Inc. (NYSE:TXT) were recently published by: Profitconfidential.com, which released: “Textron Inc.: Here’s What Everyone’s Missing About Textron Stock” on October 06, 2016. Twst.com‘s article titled: “Textron Inc.: Textron Specialized Vehicles Inc. Acquires the Business of …” and published on October 04, 2016 is yet another important article.

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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