For Immediate Release
Chicago, IL – June 14, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Textron Inc. (TXT), Berkshire Hathaway Inc. (BRK.B), Garmin Ltd.’s (GRMN), General Electric Company (GE) and United Technologies Corporation (UTX).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Wednesday’s Analyst Blog:
Textron Jets for NetJets
Cessna Aircraft Company, a Textron Inc. (TXT) company, announced that it signed a purchase agreement with NetJets Inc. for delivery of up to 150 Citation Latitude business jets, with initial deliveries beginning in 2016. NetJets is a Berkshire Hathaway Inc. (BRK.B) company. Currently, NetJets owns and operates more than 250 Citation jets including the Citation Encore, Citation XLS+, Citation Sovereign, and Citation X.
Citation Latitude business jet has been designed with space for a crew of two plus up to eight passengers; features Garmin Ltd.’s (GRMN) G5000 series avionics; an 84-inch (2.13-meter) fuselage; a 6-foot (1.83-meter) high passenger cabin with a flat floor; and Cessna's Clairity cabin technology solution.
Citation Latitude business jet’s current retail price is $14.9 million. The jet offers a full fuel payload of 1,000 pounds (454 kilograms), a maximum cruise speed of 440 knots true airspeed (815 kilometers per hour) and a range of 2,300 nautical miles (4,259.6 kilometers). Preliminary specifications project that the aircraft will operate at airports with runways as short as 3,900 feet (1,189 meters), will have a maximum altitude of 45,000 feet (13,716 meters) and will climb direct to 43,000 feet (13,106 meters) in 26 minutes.
First flight of the Citation Latitude prototype is scheduled for mid-year 2014 and entry into service expected in 2015.
Textron Inc. is a global multi-industry company that manufactures aircraft, automotive engine components and industrial tools. It is also a provider of solutions and services for aircraft, fastening systems and industrial products and components.
Going forward, the company’s diversified presence across commercial, manufacturing and industrial products, as well as financing operations, insulates it from specific business risk. It is also increasingly focused on its core manufacturing business and is gradually exiting from its commercial finance business.
However, we are concerned about the rate of new order booking at Cessna, the rate of recovery of the business jet market, and defense spending cutbacks. The company presently retains a short-term Zacks #3 Rank (Hold) that corresponds with our long-term Neutral recommendation on the stock. Some of its main competitors are General Electric Company (GE) and United Technologies Corporation (UTX).
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339
More From Zacks.com