Textron (TXT) : Traders are bullish on Textron (TXT) as it has outperformed the S&P 500 by a wide margin of 1.72% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.73%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.7% in the last 1 week, and is up 2.11% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Textron Inc. is up 7.28% in the last 3-month period. Year-to-Date the stock performance stands at -3.11%. The stock has recorded a 20-day Moving Average of 3.38% and the 50-Day Moving Average is 6.2%.
Textron (NYSE:TXT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $40.41 and $40.28 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $40.66, notching a gain of 0.30% for the day. The total traded volume was 613,260 . The stock had closed at $40.54 on the previous day.
Also, Morgan Stanley initiates coverage on Textron (NYSE:TXT) The brokerage firm has issued a Underweight rating on the shares. The Analysts at the ratings agency announces the price target to $39 per share. The rating by the firm was issued on June 23, 2016.
Textron Inc. is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services worldwide. It operates in five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets. Bell Helicopter is a supplier of military and commercial helicopters, tiltrotor aircraft, and related spare parts and services in the world. Textron Systems product lines consist of unmanned aircraft systems, marine and land systems, weapons and sensors, simulation, training and other defense and aviation mission support products and services. The Industrial segment designs and manufactures a range of products under three principal product lines. The Finance segment provides financing primarily to purchasers of new and pre-owned Textron Aviation aircraft and Bell helicopters.