Brokerages Set Textron Inc. (NYSE:TXT) Price Target at $93.45

Textron Inc. (NYSE:TXT) has received an average rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $93.45.

A number of research analysts recently commented on the company. Robert W. Baird cut their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Thursday, December 19th. Barclays dropped their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Morgan Stanley lowered their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, January 6th.

Textron Trading Up 0.7 %

Textron stock opened at $76.72 on Tuesday. Textron has a 52 week low of $74.89 and a 52 week high of $97.33. The firm has a market capitalization of $14.23 billion, a PE ratio of 17.80, a PEG ratio of 1.27 and a beta of 1.27. The business’s 50-day simple moving average is $79.44 and its 200-day simple moving average is $84.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The business’s revenue was down 7.2% compared to the same quarter last year. Equities research analysts forecast that Textron will post 6.15 earnings per share for the current year.

Hedge Funds Weigh In On Textron

A number of institutional investors have recently modified their holdings of the stock. Public Sector Pension Investment Board increased its position in Textron by 58.9% in the second quarter. Public Sector Pension Investment Board now owns 7,094 shares of the aerospace company’s stock worth $609,000 after purchasing an additional 2,629 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of Textron during the 2nd quarter worth approximately $1,256,000. The Manufacturers Life Insurance Company lifted its holdings in Textron by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 122,505 shares of the aerospace company’s stock valued at $10,518,000 after buying an additional 5,913 shares during the period. Creative Planning boosted its stake in Textron by 1.0% in the second quarter. Creative Planning now owns 37,139 shares of the aerospace company’s stock valued at $3,189,000 after acquiring an additional 355 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Textron by 3.1% during the 2nd quarter. NewEdge Advisors LLC now owns 26,823 shares of the aerospace company’s stock worth $2,303,000 after acquiring an additional 806 shares during the period. 86.03% of the stock is owned by institutional investors.

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.