Textron Inc. (TXT) continues to generate mixed sentiments in the market with its Q3 earnings projected to decline. Institutions have recently cut down their holdings in the company, with
Ferguson Wellman Capital Management Inc. and
Wedge Capital Management L L P NC among those selling their shares. However,
Sanctuary Advisors LLC and
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp have increased their holdings. The Defense Sector sees TXT emerging as a Strong Buy. The market anticipates TXT's quarterly earnings announcement, with a key focus also on potential benefits from Federal Rate cuts.
JPMorgan Chase & Co. cut TXT's price target to $95.00, though investors could be undervaluing Textron.
The unveiling of comprehensive and factory-direct modification packages for
Cessna Citation and
Beechcraft King Air customers, known as
EvoX upgrades, promise innovation and proactive strategies. However, significant insider selling, including by top executive staff, may signal caution. TXT's enhanced features for
Cessna Citation Jets show promise, while a recent army contract to supply
Bell 412 EPX Helicopters brings optimism. Textron has also earned FAA approval for its safety management system in aircraft design and manufacturing, which combined with booming business jet and helicopter demand, supports long-term growth.
Yet, recent program cancellations and weak demand have forced TXT to cut 1,500 jobs. Moreover, the increased CEO pay packet, despite the mixed performance, may test shareholder’s patience.
Textron TXT News Analytics from Wed, 25 Jan 2017 08:00:00 GMT to Sat, 19 Oct 2024 19:18:00 GMT -
Rating -2
- Innovation 3
- Information 5
- Rumor 4
