UBS Group Forecasts Strong Price Appreciation for Textron (NYSE:TXT) Stock

Textron (NYSE:TXT) had its target price lifted by stock analysts at UBS Group from $62.00 to $63.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “sell” rating on the aerospace company’s stock. UBS Group’s price objective suggests a potential downside of 10.06% from the company’s previous close.

A number of other analysts have also commented on the company. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. Bank of America cut Textron from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Susquehanna dropped their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley decreased their price objective on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Finally, Robert W. Baird lowered their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Textron has a consensus rating of “Hold” and a consensus price target of $87.70.

Textron Trading Up 1.0 %

Shares of TXT stock opened at $70.05 on Monday. The firm has a market cap of $12.72 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. Textron has a 1-year low of $57.70 and a 1-year high of $94.57. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The company has a 50-day moving average of $70.11 and a two-hundred day moving average of $76.80.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 earnings per share. On average, analysts predict that Textron will post 6.12 EPS for the current year.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Textron by 50.2% during the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock valued at $46,137,000 after acquiring an additional 201,696 shares during the period. Merit Financial Group LLC grew its position in Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after buying an additional 265 shares during the period. Empowered Funds LLC grew its holdings in Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after purchasing an additional 4,480 shares during the period. Franklin Resources Inc. raised its stake in Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after acquiring an additional 15,294 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after buying an additional 5,367 shares during the period. 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.