Textron (NYSE:TXT – Get Free Report) had its target price dropped by JPMorgan Chase & Co. from $90.00 to $88.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 11.13% from the company’s previous close.
Several other research analysts also recently weighed in on the company. Barclays dropped their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. TD Cowen raised shares of Textron to a “hold” rating in a research report on Thursday, December 19th. Robert W. Baird dropped their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, UBS Group decreased their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.
Read Our Latest Report on Textron
Textron Stock Performance
Textron (NYSE:TXT – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm earned $1.49 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that Textron will post 5.45 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares during the period. International Assets Investment Management LLC purchased a new position in Textron in the 4th quarter valued at $11,523,000. Jacobs Levy Equity Management Inc. acquired a new stake in Textron during the 3rd quarter worth $828,000. Easterly Investment Partners LLC grew its holdings in shares of Textron by 87.7% during the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after buying an additional 19,304 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of Textron in the third quarter valued at about $1,797,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.
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.
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