Textron (TXT) PT Set at $65.00 by Stephens
Textron (NYSE:TXT) has been assigned a $65.00 price target by research analysts at Stephens in a research report issued on Thursday. The brokerage presently has a “hold” rating on the aerospace company’s stock. Stephens’ price objective suggests a potential upside of 8.06% from the stock’s previous close.
TXT has been the topic of several other reports. Zacks Investment Research downgraded Textron from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Wells Fargo & Co raised their price objective on Textron from $54.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Jefferies Group restated a “buy” rating and set a $60.00 price objective on shares of Textron in a report on Tuesday, September 26th. Credit Suisse Group reduced their price objective on Textron from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, October 20th. Finally, Citigroup raised their price objective on Textron from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Textron presently has an average rating of “Hold” and an average price target of $58.91.
Shares of Textron (TXT) traded up $1.06 during midday trading on Thursday, hitting $60.15. The stock had a trading volume of 1,213,732 shares, compared to its average volume of 1,088,336. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.96 and a current ratio of 2.08. Textron has a 12-month low of $43.66 and a 12-month high of $60.19. The stock has a market capitalization of $15,565.51, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 2.40 and a beta of 1.57.
Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. Textron’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. research analysts expect that Textron will post 2.47 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Street Advisors Inc. NC bought a new stake in Textron during the 4th quarter valued at $207,000. Parametric Portfolio Associates LLC boosted its position in Textron by 20.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 575,945 shares of the aerospace company’s stock valued at $31,032,000 after acquiring an additional 99,183 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Textron during the 3rd quarter valued at $110,000. IFM Investors Pty Ltd bought a new stake in Textron during the 3rd quarter valued at $501,000. Finally, Neuberger Berman Group LLC boosted its position in Textron by 13.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,886,812 shares of the aerospace company’s stock valued at $263,302,000 after acquiring an additional 563,037 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.
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.