Textron (NYSE:TXT) PT Lowered to $79.00

Textron (NYSE:TXT) had its price target reduced by research analysts at UBS Group from $87.00 to $79.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “sell” rating on the aerospace company’s stock. UBS Group’s price objective would indicate a potential downside of 4.07% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. Bank of America raised their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. cut their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a report on Thursday, August 8th. Finally, Robert W. Baird dropped their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.56.

Textron Trading Up 1.1 %

Shares of Textron stock opened at $82.35 on Friday. The company’s 50-day moving average price is $87.70 and its 200-day moving average price is $88.03. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.43 and a beta of 1.23. Textron has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.06). 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 6.67% and a return on equity of 16.41%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 earnings per share. On average, equities analysts expect that Textron will post 6.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TXT. Innealta Capital LLC bought a new position in Textron during the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Textron in the second quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron in the second quarter worth $31,000. Family Firm Inc. bought a new stake in Textron during the 2nd quarter valued at $40,000. Finally, Truvestments Capital LLC purchased a new stake in Textron during the 1st quarter valued at $48,000. 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.