Barclays Issues Positive Forecast for Textron (NYSE:TXT) Stock Price

Textron (NYSE:TXT) had its target price hoisted by Barclays from $95.00 to $105.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the aerospace company’s stock.

Other equities analysts have also issued research reports about the company. Wall Street Zen lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley raised their price objective on Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Susquehanna raised their price objective on Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a report on Friday, July 25th. UBS Group raised Textron from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $88.00 in a report on Monday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.67.

Textron Stock Performance

NYSE:TXT opened at $78.20 on Tuesday. The firm has a market capitalization of $14.12 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.28 and a beta of 1.17. The business’s fifty day moving average price is $79.07 and its 200 day moving average price is $74.73. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. Textron has a 12 month low of $57.70 and a 12 month high of $93.98.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%. Textron’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 earnings per share. On average, sell-side analysts anticipate that Textron will post 6.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the transaction, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TXT. Nuveen LLC purchased a new stake in Textron in the 1st quarter worth approximately $89,403,000. Balyasny Asset Management L.P. grew its stake in Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock worth $94,575,000 after acquiring an additional 1,218,485 shares during the period. Invesco Ltd. grew its stake in Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after acquiring an additional 1,167,105 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Textron during the 2nd quarter valued at $66,446,000. Finally, Millennium Management LLC grew its stake in shares of Textron by 128.7% during the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company’s stock valued at $80,416,000 after buying an additional 626,346 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.