Textron (NYSE:TXT – Free Report) had its price objective trimmed by Citigroup from $118.00 to $111.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.
Several other analysts also recently commented on TXT. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Monday, January 6th. Robert W. Baird reduced their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Barclays decreased their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. TD Cowen upgraded Textron to a “hold” rating in a research report on Thursday, December 19th. Finally, UBS Group decreased their price objective on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.64.
Read Our Latest Stock Analysis on TXT
Textron Price Performance
Textron (NYSE:TXT – Get Free Report) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 earnings per share. As a group, sell-side analysts anticipate that Textron will post 5.42 EPS for the current year.
Institutional Investors Weigh In On Textron
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its holdings in shares of Textron by 33.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock valued at $74,000 after purchasing an additional 239 shares in the last quarter. Pflug Koory LLC boosted its holdings in Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after buying an additional 125 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Textron by 8.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,672 shares of the aerospace company’s stock worth $204,000 after buying an additional 199 shares during the period. Wesbanco Bank Inc. increased its holdings in Textron by 0.6% in the fourth quarter. Wesbanco Bank Inc. now owns 61,453 shares of the aerospace company’s stock valued at $4,701,000 after buying an additional 384 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Textron by 85.1% during the 4th quarter. SG Americas Securities LLC now owns 5,735 shares of the aerospace company’s stock valued at $439,000 after acquiring an additional 2,636 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.
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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