NEW YORK ( TheStreet) -- Textron ( TXT) was the best-performing stock in the S&P 500 Friday morning. The S&P was down 4.07 points, or 0.29%, to 1,388.71 early Friday.
Shares of Textron rose 1.7% to $26.88. On Friday, Textron's Cessna division signed two strategic agreements with Aviation Industry Corp. of China to build business jets in China. Texton has an estimated price-to-earnings ratio for next year of 11.49 times; the average for aerospace companies is 13.3. For comparison, both United Technologies ( UTX) and Boeing ( BA) have higher forward P/Es of 12.39 and 13.12, respectively. Ten of the 16 analysts who cover Textron rated it buy. Five analysts gave the stock a hold rating and one rated it sell. TheStreet Ratings gives Textron a C+ grade and a hold rating. The stock has risen 45.11% year to date. -- Written by Alexandra Zendrian >To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: firstname.lastname@example.org. >To follow the writer on Twitter, go to Alexandra Zendrian.