Textron (NYSE:TXT) PT Lowered to $95.00

Textron (NYSE:TXT) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $100.00 to $95.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 8.14% from the stock’s current price.

TXT has been the subject of several other reports. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. Bank of America increased their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, UBS Group increased their target price on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Textron has a consensus rating of “Hold” and an average price target of $102.75.

Textron Price Performance

Shares of TXT stock opened at $87.85 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a market cap of $16.75 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.40 and a beta of 1.23. The business has a fifty day simple moving average of $87.51 and a 200 day simple moving average of $88.46.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the company earned $1.46 EPS. Textron’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Textron will post 6.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Textron

A number of hedge funds have recently made changes to their positions in TXT. Innealta Capital LLC acquired a new stake in Textron during the second quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Textron during the second quarter worth approximately $30,000. Oakworth Capital Inc. acquired a new stake in Textron during the second quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in Textron during the second quarter worth approximately $40,000. Finally, Truvestments Capital LLC acquired a new stake in Textron during the first quarter worth approximately $48,000. 86.03% of the stock is currently 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.