Textron (NYSE:TXT) Price Target Cut to $105.00

Textron (NYSE:TXT) had its price target decreased by stock analysts at Susquehanna from $110.00 to $105.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price objective would suggest a potential upside of 21.37% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $105.00 in a report on Friday, March 8th. Citigroup boosted their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. The Goldman Sachs Group boosted their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Finally, UBS Group lifted their price target on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.63.

Textron Stock Performance

NYSE:TXT opened at $86.51 on Friday. The stock has a market cap of $16.64 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The firm’s fifty day simple moving average is $92.10 and its 200 day simple moving average is $83.90. Textron has a twelve month low of $61.27 and a twelve month high of $97.33. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.41.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter last year, the firm earned $1.05 EPS. The business’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that Textron will post 6.3 EPS for the current year.

Hedge Funds Weigh In On Textron

A number of hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC raised its position in Textron by 18.6% in the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after buying an additional 122 shares during the last quarter. Allworth Financial LP raised its position in Textron by 12.0% in the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after buying an additional 137 shares during the last quarter. Quent Capital LLC raised its position in Textron by 29.2% in the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after buying an additional 143 shares during the last quarter. Czech National Bank raised its position in Textron by 0.5% in the 1st quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after buying an additional 157 shares during the last quarter. Finally, Altman Advisors Inc. raised its position in Textron by 0.8% in the 4th quarter. Altman Advisors Inc. now owns 21,357 shares of the aerospace company’s stock worth $1,718,000 after buying an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.