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

Textron (NYSE:TXT) had its target price trimmed by Susquehanna from $100.00 to $90.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a positive rating on the aerospace company’s stock.

Several other research analysts have also recently commented on the company. TD Cowen raised Textron to a “hold” rating in a research report on Thursday, December 19th. UBS Group reduced their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. 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. Finally, StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and a consensus price target of $98.64.

Textron Stock Performance

NYSE TXT opened at $75.73 on Wednesday. The company’s fifty day moving average is $81.52 and its two-hundred day moving average is $85.49. Textron has a 52-week low of $74.89 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.46 and a beta of 1.27.

Textron (NYSE:TXT) last released its 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). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the business earned $1.49 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Textron will post 5.52 EPS for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s payout ratio is 1.76%.

Institutional Investors Weigh In On Textron

A number of hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP raised its stake in shares of Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after acquiring an additional 258,778 shares during the last quarter. AQR Capital Management LLC raised its position in Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after purchasing an additional 231,173 shares during the last quarter. Fidelity National Financial Inc. acquired a new position in Textron during the 2nd quarter worth $19,748,000. Distillate Capital Partners LLC boosted its position in Textron by 101,299.4% in the 2nd quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock valued at $14,278,000 after buying an additional 166,131 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after buying an additional 160,923 shares during the period. Institutional investors own 86.03% of the company’s stock.

About Textron

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.