Textron (NYSE:TXT) Price Target Cut to $111.00 by Analysts at Citigroup

Textron (NYSE:TXT) had its price target reduced by Citigroup from $118.00 to $111.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Other analysts have also issued research reports about the stock. Robert W. Baird lowered their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Susquehanna decreased their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company 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. Finally, Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Monday, January 6th. 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 data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.73.

Textron Stock Performance

NYSE:TXT opened at $78.33 on Tuesday. The company has a fifty day moving average of $80.03 and a 200-day moving average of $84.96. The firm has a market capitalization of $14.53 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.24 and a beta of 1.27. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron has a twelve month low of $74.89 and a twelve month high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3,778,060 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. Textron’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. As a group, sell-side analysts anticipate that Textron will post 5.42 EPS for the current year.

Hedge Funds Weigh In On Textron

A number of hedge funds have recently bought and sold shares of the company. Empirical Finance LLC boosted its holdings in Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after acquiring an additional 115 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in shares of Textron by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock worth $1,290,000 after buying an additional 118 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after buying an additional 125 shares during the last quarter. Pflug Koory LLC boosted its holdings in shares of Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after buying an additional 125 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after buying an additional 163 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other 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.