Textron Inc. (TXT) Price Target Increased to $59.00 by Analysts at Wells Fargo & Co
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.
COPYRIGHT VIOLATION NOTICE: “Textron Inc. (TXT) Price Target Increased to $59.00 by Analysts at Wells Fargo & Co” was first published by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/20/textron-inc-txt-price-target-increased-to-59-00-by-analysts-at-wells-fargo-co.html.
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.
Receive News & Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related companies with MarketBeat.com's FREE daily email newsletter.