Textron (NYSE:TXT) PT Lowered to $105.00 at Susquehanna

Textron (NYSE:TXT) had its price objective cut by investment analysts at Susquehanna from $110.00 to $105.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price target indicates a potential upside of 21.44% from the company’s current price.

Several other research firms have also weighed in on TXT. The Goldman Sachs Group raised their target price on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. UBS Group raised their price target on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Finally, Citigroup raised their price target on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and an average target price of $95.63.

Textron Stock Up 1.8 %

Shares of NYSE:TXT traded up $1.56 during midday trading on Friday, hitting $86.46. 549,186 shares of the stock were exchanged, compared to its average volume of 1,191,744. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. Textron has a 52-week low of $61.27 and a 52-week high of $97.33. The business’s fifty day simple moving average is $92.09 and its two-hundred day simple moving average is $83.81. The company has a market capitalization of $16.63 billion, a PE ratio of 18.91, a P/E/G ratio of 1.48 and a beta of 1.30.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.05% and a net margin of 6.73%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. Textron’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that Textron will post 6.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its holdings in Textron by 93.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after acquiring an additional 713,169 shares during the period. Swiss National Bank acquired a new stake in Textron during the 3rd quarter worth $50,696,000. JPMorgan Chase & Co. grew its holdings in Textron by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after acquiring an additional 596,214 shares during the period. LSV Asset Management grew its holdings in Textron by 15.9% during the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after acquiring an additional 521,276 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Textron in the 4th quarter valued at $394,347,000. 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.