Citigroup Cuts Textron (NYSE:TXT) Price Target to $111.00

Textron (NYSE:TXT) had its target price lowered by Citigroup from $118.00 to $111.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

Other equities research analysts also recently issued reports about the stock. Vertical Research upgraded shares of 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. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Susquehanna reduced their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. UBS Group reduced their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Textron has an average rating of “Moderate Buy” and an average target price of $95.73.

Textron Trading Down 0.1 %

Shares of Textron stock opened at $78.33 on Tuesday. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.24 and a beta of 1.27. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron has a 12-month low of $74.89 and a 12-month high of $97.33. The firm’s 50-day moving average price is $80.03 and its two-hundred day moving average price is $84.96.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3,778,060 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 earnings per share. On average, analysts forecast that Textron will post 5.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Textron

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted 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 buying an additional 15,294 shares during the period. International Assets Investment Management LLC bought a new position in Textron during the 4th quarter worth approximately $11,523,000. Jacobs Levy Equity Management Inc. bought a new position in Textron during the 3rd quarter worth approximately $828,000. Easterly Investment Partners LLC raised its holdings in Textron by 87.7% during the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after purchasing an additional 19,304 shares during the last quarter. Finally, KBC Group NV bought a new position in Textron during the 3rd quarter worth approximately $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.