Textron Inc. (NYSE:TXT) had its price objective lifted by analysts at Citigroup Inc. from $54.00 to $61.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the aerospace company’s stock. Citigroup Inc.’s price target would suggest a potential upside of 13.51% from the company’s current price.

TXT has been the topic of a number of other research reports. ValuEngine upgraded Textron from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Drexel Hamilton upgraded Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Monday, September 11th. Jefferies Group LLC restated a “buy” rating and set a $60.00 price objective on shares of Textron in a research note on Tuesday, September 26th. Finally, Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Thursday, September 21st. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $55.69.

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

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, topping the Zacks’ 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 analyst estimates of $3.55 billion. During the same quarter last year, the company earned $0.61 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that Textron will post $2.51 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Textron by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 24,931,208 shares of the aerospace company’s stock valued at $1,174,260,000 after purchasing an additional 393,214 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Textron by 2.1% in the 2nd quarter. Capital Research Global Investors now owns 18,615,303 shares of the aerospace company’s stock valued at $876,781,000 after purchasing an additional 378,902 shares during the last quarter. BlackRock Inc. increased its stake in shares of Textron by 3.8% in the 2nd quarter. BlackRock Inc. now owns 17,799,799 shares of the aerospace company’s stock valued at $838,370,000 after purchasing an additional 655,034 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Textron by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 5,457,637 shares of the aerospace company’s stock valued at $257,055,000 after purchasing an additional 252,903 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Textron by 28.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock valued at $203,650,000 after purchasing an additional 957,464 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

About Textron

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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