Textron (NYSE:TXT) Price Target Cut to $90.00 by Analysts at Susquehanna

Textron (NYSE:TXT) had its price target decreased by Susquehanna from $100.00 to $90.00 in a research report released on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the aerospace company’s stock.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. reduced their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. UBS Group reduced their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. Finally, TD Cowen raised shares of Textron to a “hold” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.64.

Textron Stock Performance

NYSE:TXT opened at $76.02 on Wednesday. Textron has a twelve month low of $74.89 and a twelve month high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $81.61 and a 200-day moving average of $85.56. The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the company posted $1.49 earnings per share. Textron’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Textron will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Hedge Funds Weigh In On Textron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after purchasing an additional 15,294 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Textron in the third quarter worth $828,000. Easterly Investment Partners LLC grew its stake in shares of Textron by 87.7% in the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after acquiring an additional 19,304 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Textron in the fourth quarter worth $11,523,000. Finally, KBC Group NV acquired a new stake in shares of Textron in the third quarter worth $1,797,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

About Textron

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.