Textron (NYSE:TXT - Get Free Report) had its target price lowered by stock analysts at Citigroup from $118.00 to $111.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the aerospace company's stock. Citigroup's price target would indicate a potential upside of 37.99% from the stock's current price.
Other equities analysts have also issued research reports about the company. UBS Group cut their target price on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research note on Friday, October 25th. Barclays decreased their price target on Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. TD Cowen raised Textron to a "hold" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. reduced their target price on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Textron presently has a consensus rating of "Moderate Buy" and an average price target of $97.64.
Check Out Our Latest Stock Analysis on Textron
Shares of TXT stock traded up $1.28 on Tuesday, hitting $80.44. The stock had a trading volume of 135,925 shares, compared to its average volume of 1,153,669. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $80.48 and a 200 day moving average price of $85.08. The company has a market cap of $14.92 billion, a PE ratio of 17.73, a P/E/G ratio of 1.21 and a beta of 1.27. Textron has a one year low of $74.89 and a one year high of $97.33.
Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share. Research analysts anticipate that Textron will post 5.42 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after acquiring an additional 15,294 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Textron during the fourth quarter worth about $11,523,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Textron during the third quarter worth about $828,000. Easterly Investment Partners LLC raised its holdings in shares of Textron by 87.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company's stock valued at $3,659,000 after purchasing an additional 19,304 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of Textron in the 3rd quarter valued at $1,797,000. Institutional investors and hedge funds own 86.03% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Textron, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Textron wasn't on the list.
While Textron currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.