Textron (NYSE:TXT) PT Raised to $75.00

Textron (NYSE:TXT) had its price target increased by equities researchers at Jefferies Financial Group from $70.00 to $75.00 in a research note issued to investors on Monday, PriceTargets.com reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 14.50% from the company’s current price. Jefferies Financial Group also issued estimates for Textron’s Q2 2021 earnings at $0.60 EPS.

A number of other research firms also recently commented on TXT. Robert W. Baird raised shares of Textron from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $57.00 to $72.00 in a research report on Friday, April 30th. Credit Suisse Group lifted their target price on shares of Textron from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday. The Goldman Sachs Group raised shares of Textron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $71.00 in a research report on Wednesday, April 14th. TheStreet raised shares of Textron from a “c+” rating to a “b” rating in a research report on Wednesday, January 27th. Finally, Barclays raised shares of Textron from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $52.00 to $68.00 in a research report on Wednesday, March 31st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $60.30.

Shares of NYSE TXT opened at $65.50 on Monday. Textron has a twelve month low of $21.92 and a twelve month high of $65.86. The firm has a market cap of $14.78 billion, a P/E ratio of 55.04, a PEG ratio of 6.44 and a beta of 1.77. The company has a 50 day moving average of $57.84 and a 200 day moving average of $49.31. The company has a quick ratio of 1.27, a current ratio of 2.33 and a debt-to-equity ratio of 0.67.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 29th. The aerospace company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.23. Textron had a net margin of 2.26% and a return on equity of 8.69%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Textron will post 1.88 earnings per share for the current fiscal year.

In other Textron news, Director Kathleen M. Bader sold 10,775 shares of the business’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $64.00, for a total value of $689,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Mark S. Bamford sold 3,300 shares of the business’s stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $51.75, for a total transaction of $170,775.00. Corporate insiders own 1.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its stake in Textron by 1.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 183,200 shares of the aerospace company’s stock worth $10,274,000 after purchasing an additional 2,287 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Textron by 11.8% in the 1st quarter. Victory Capital Management Inc. now owns 7,555,085 shares of the aerospace company’s stock worth $423,689,000 after purchasing an additional 794,825 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in Textron by 1.3% in the 1st quarter. Great Lakes Advisors LLC now owns 420,504 shares of the aerospace company’s stock worth $23,582,000 after purchasing an additional 5,488 shares in the last quarter. Mastrapasqua Asset Management Inc. raised its position in shares of Textron by 24.3% during the 1st quarter. Mastrapasqua Asset Management Inc. now owns 54,765 shares of the aerospace company’s stock valued at $3,071,000 after buying an additional 10,715 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Textron by 4.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 11,674 shares of the aerospace company’s stock valued at $655,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as offers maintenance, inspection, and repair services.

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