Textron Inc. (NYSE:TXT) had its price target hoisted by analysts at Wells Fargo & Co from $54.00 to $59.00 in a research note issued on Friday. The firm presently has an “outperform” rating on the aerospace company’s stock. Wells Fargo & Co’s target price points to a potential upside of 9.79% from the company’s previous close.

Several other equities analysts have also recently issued reports on TXT. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, July 18th. Credit Suisse Group restated an “outperform” rating and set a $55.00 price objective (up from $50.00) on shares of Textron in a research note on Thursday, July 20th. Bank of America Corporation cut Textron from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $53.00 to $45.00 in a research note on Friday, July 21st. Finally, Morgan Stanley raised their price objective on Textron from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.69.

Textron (NYSE TXT) traded up 1.21% during mid-day trading on Friday, reaching $53.74. 3,015,183 shares of the company traded hands. The firm’s 50-day moving average is $52.82 and its 200 day moving average is $48.99. Textron has a 52-week low of $38.79 and a 52-week high of $55.80. The stock has a market capitalization of $14.23 billion, a PE ratio of 16.43 and a beta of 1.59.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Textron will post $2.51 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the business. OppenheimerFunds Inc. raised its stake in shares of Textron by 10.9% during the first quarter. OppenheimerFunds Inc. now owns 36,875 shares of the aerospace company’s stock valued at $1,755,000 after purchasing an additional 3,628 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Textron by 30.2% during the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock valued at $125,000 after purchasing an additional 607 shares in the last quarter. Menta Capital LLC bought a new stake in shares of Textron during the first quarter valued at about $314,000. UBS Group AG raised its stake in shares of Textron by 24.4% during the first quarter. UBS Group AG now owns 121,581 shares of the aerospace company’s stock valued at $5,786,000 after purchasing an additional 23,857 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Textron by 57.1% during the first quarter. Morgan Stanley now owns 811,767 shares of the aerospace company’s stock valued at $38,632,000 after purchasing an additional 294,975 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

Analyst Recommendations for Textron (NYSE:TXT)

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