Textron (NYSE:TXT – Get Free Report) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $90.00 to $88.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 11.93% from the company’s current price.
A number of other analysts have also weighed in on TXT. Susquehanna reduced their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird reduced their target price on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, January 6th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Thursday, December 19th. Finally, Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.
Check Out Our Latest Analysis on Textron
Textron Trading Up 0.7 %
Textron (NYSE:TXT – Get Free Report) last released its quarterly 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 company had revenue of $3.43 billion for 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 business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.49 EPS. As a group, research analysts expect that Textron will post 5.45 EPS for the current year.
Institutional Investors Weigh In On Textron
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empirical Finance LLC grew its position in Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after purchasing an additional 115 shares during the period. Davis Investment Partners LLC lifted its holdings in Textron by 0.8% in the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock valued at $1,290,000 after acquiring an additional 118 shares during the period. Apollon Wealth Management LLC boosted its position in Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after purchasing an additional 125 shares in the last quarter. Creative Planning grew its stake in shares of Textron by 0.4% during the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after purchasing an additional 165 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Textron by 4.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock worth $353,000 after buying an additional 175 shares in the last quarter. 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.
See Also
- Five stocks we like better than Textron
- 3 Ways To Invest In Coffee, Other Than Drinking It
- 3 Cheap Small-Cap Banks for Dividend Growth Investors
- Short Selling: How to Short a Stock
- 3 Defensive Stocks Analysts Are Bullish on to Kick Off the Year
- Health Care Stocks Explained: Why You Might Want to Invest
- Vistra Corp: Could 2025 Continue Its Streak of Outperformance?
Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.