Textron (NYSE:TXT) PT Raised to $115.00 at Citigroup

Textron (NYSE:TXT) had its target price hoisted by Citigroup from $111.00 to $115.00 in a research note released on Monday morning, Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

A number of other equities analysts have also recently weighed in on the company. UBS Group raised their price objective on Textron from $84.00 to $87.00 and gave the company a sell rating in a report on Friday, July 19th. TD Cowen lifted their price target on Textron from $100.00 to $103.00 and gave the stock a buy rating in a research note on Friday, July 19th. StockNews.com cut Textron from a strong-buy rating to a buy rating in a research note on Friday, April 26th. The Goldman Sachs Group lifted their price target on Textron from $103.00 to $120.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Finally, Susquehanna decreased their price target on Textron from $110.00 to $105.00 and set a positive rating on the stock in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $101.63.

Textron Stock Performance

Shares of NYSE TXT opened at $91.34 on Monday. The stock has a market cap of $17.42 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.47 and a beta of 1.25. The company has a current ratio of 1.64, a quick ratio of 0.66 and a debt-to-equity ratio of 0.42. Textron has a 1-year low of $68.02 and a 1-year high of $97.33. The stock’s 50-day moving average is $87.64 and its 200 day moving average is $88.17.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. Textron’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. On average, sell-side analysts anticipate that Textron will post 6.26 EPS for the current fiscal year.

Insider Transactions at Textron

In other news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the sale, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Textron

Large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its position in shares of Textron by 263.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock worth $1,283,000 after buying an additional 9,692 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of Textron during the fourth quarter valued at approximately $922,000. Studio Investment Management LLC bought a new stake in shares of Textron during the fourth quarter valued at approximately $1,223,000. Charles Schwab Investment Management Inc. boosted its position in shares of Textron by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock valued at $136,085,000 after purchasing an additional 19,769 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Textron by 269.1% during the fourth quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock valued at $1,680,000 after purchasing an additional 15,235 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

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.