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

Textron (NYSE:TXT) had its price target decreased by stock analysts at Citigroup from $118.00 to $111.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Citigroup’s price target would suggest a potential upside of 37.99% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Susquehanna lowered 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. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Monday, January 6th. Robert W. Baird lowered their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given 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 price target of $97.64.

Textron Stock Up 1.6 %

NYSE:TXT traded up $1.28 during midday trading on Tuesday, hitting $80.44. 135,925 shares of the company were exchanged, compared to its average volume of 1,153,669. The company has a fifty day simple moving average of $80.48 and a 200 day simple moving average of $85.08. Textron has a fifty-two week low of $74.89 and a fifty-two week 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 market capitalization of $14.92 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. Textron’s revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Textron will post 5.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Textron

A number of institutional investors have recently bought and sold shares of the stock. Empirical Finance LLC boosted its stake in Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after acquiring an additional 115 shares during the last quarter. Davis Investment Partners LLC boosted its stake in Textron by 0.8% during the 3rd 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 last quarter. Apollon Wealth Management LLC lifted its position in shares of 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 buying an additional 125 shares during the last quarter. Creative Planning lifted its position in shares of Textron by 0.4% in the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after buying an additional 165 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Textron by 4.4% in the 2nd 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 during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

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.