Susquehanna Lowers Textron (NYSE:TXT) Price Target to $90.00

Textron (NYSE:TXT) had its price objective decreased by equities research analysts at Susquehanna from $100.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price objective would indicate a potential upside of 18.39% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Robert W. Baird reduced their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. UBS Group dropped their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.64.

Textron Stock Up 0.6 %

Textron stock opened at $76.02 on Wednesday. The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.46 and a beta of 1.27. The company’s 50 day simple moving average is $81.52 and its 200 day simple moving average is $85.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron has a fifty-two week low of $74.89 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. As a group, sell-side analysts anticipate that Textron will post 5.52 EPS for the current year.

Hedge Funds Weigh In On Textron

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Textron in the fourth quarter valued at $11,523,000. Central Pacific Bank Trust Division lifted its stake in Textron by 4.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 24,200 shares of the aerospace company’s stock valued at $1,851,000 after purchasing an additional 1,000 shares during the last quarter. Franklin Resources Inc. grew its holdings in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares during the period. Neo Ivy Capital Management acquired a new position in Textron during the third quarter worth approximately $122,000. Finally, M&T Bank Corp raised its stake in Textron by 2.3% in the third quarter. M&T Bank Corp now owns 17,101 shares of the aerospace company’s stock valued at $1,514,000 after buying an additional 382 shares during the period. 86.03% of the stock is owned by institutional investors.

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.