Textron Inc. (NYSE:TXT) Receives $93.45 Average PT from Analysts

Textron Inc. (NYSE:TXT) has been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the company, 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 twelve-month price target among brokers that have updated their coverage on the stock in the last year is $93.45.

A number of research analysts have issued reports on TXT shares. Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Susquehanna reduced their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Finally, Morgan Stanley reduced their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd.

Hedge Funds Weigh In On Textron

A number of hedge funds and other institutional investors have recently made changes to their positions in TXT. True Wealth Design LLC acquired a new position in shares of Textron in the third quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Textron in the fourth quarter worth approximately $31,000. Capital Performance Advisors LLP acquired a new position in shares of Textron in the third quarter worth approximately $42,000. Eastern Bank acquired a new position in shares of Textron in the fourth quarter worth approximately $42,000. Finally, Truvestments Capital LLC acquired a new position in Textron in the third quarter valued at approximately $43,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

Textron stock opened at $72.56 on Friday. Textron has a 12-month low of $71.67 and a 12-month high of $97.33. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The business’s 50-day moving average price is $76.03 and its two-hundred day moving average price is $82.60. The stock has a market cap of $13.25 billion, a PE ratio of 16.84, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the business posted $1.60 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, analysts expect that Textron will post 6.12 earnings per share for the current fiscal year.

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.