Textron (NYSE:TXT) PT Lowered to $79.00

Textron (NYSE:TXT) had its price objective dropped by UBS Group from $87.00 to $79.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the aerospace company’s stock. UBS Group’s price target indicates a potential downside of 4.07% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Bank of America upped their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. Robert W. Baird dropped their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, Citigroup upped their price target on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Stock Performance

TXT stock traded up $0.86 during midday trading on Friday, reaching $82.35. 1,626,112 shares of the company’s stock traded hands, compared to its average volume of 1,077,218. Textron has a 52-week low of $74.13 and a 52-week high of $97.33. The stock has a market cap of $15.43 billion, a P/E ratio of 17.45, a PEG ratio of 1.43 and a beta of 1.23. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average is $87.81 and its 200 day moving average is $88.19.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.06). Textron had a net margin of 6.67% and a return on equity of 16.41%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the company posted $1.49 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts anticipate that Textron will post 6.1 EPS for the current year.

Hedge Funds Weigh In On Textron

Hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners lifted its position in Textron by 1.4% during the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock valued at $682,475,000 after purchasing an additional 99,868 shares during the last quarter. LSV Asset Management lifted its position in Textron by 6.9% during the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after purchasing an additional 260,003 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after purchasing an additional 160,923 shares during the last quarter. Brandes Investment Partners LP lifted its position in Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after purchasing an additional 258,778 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after purchasing an additional 231,173 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

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.