Textron Inc. (NYSE:TXT) Receives $93.45 Average Target Price from Brokerages

Shares of Textron Inc. (NYSE:TXT) have been assigned an average rating of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $93.45.

Several equities analysts have recently commented on the company. Susquehanna cut their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Citigroup cut their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Barclays decreased their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd.

Institutional Trading of Textron

Hedge funds have recently bought and sold shares of the company. Merit Financial Group LLC grew its holdings in Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after acquiring an additional 265 shares during the period. Franklin Resources Inc. increased its holdings in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after purchasing an additional 15,294 shares during the period. International Assets Investment Management LLC purchased a new stake in Textron in the 4th quarter worth approximately $11,523,000. Jacobs Levy Equity Management Inc. purchased a new position in Textron in the third quarter valued at about $828,000. Finally, Easterly Investment Partners LLC raised its position in Textron by 87.7% during the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after acquiring an additional 19,304 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Trading Up 0.7 %

Shares of TXT stock opened at $76.72 on Tuesday. Textron has a 1 year low of $74.89 and a 1 year high of $97.33. The firm has a fifty day moving average price of $79.44 and a 200-day moving average price of $84.63. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 EPS. As a group, equities analysts predict that Textron will post 6.15 earnings per share for the current year.

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.