Textron (NYSE:TXT) Given New $90.00 Price Target at Susquehanna

Textron (NYSE:TXT) had its price target cut by analysts at Susquehanna from $100.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s target price indicates a potential upside of 19.92% from the company’s previous close.

A number of other research analysts have also recently weighed in on TXT. JPMorgan Chase & Co. lowered their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. UBS Group dropped their price objective on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Barclays decreased their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.64.

Textron Stock Performance

NYSE:TXT traded down $0.55 during mid-day trading on Wednesday, hitting $75.05. 81,781 shares of the company traded hands, compared to its average volume of 1,100,211. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average price is $81.73 and its 200-day moving average price is $85.63. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. Textron has a one year low of $74.89 and a one year high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (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 company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm posted $1.49 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Research analysts anticipate that Textron will post 5.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Textron

Large investors have recently made changes to their positions in the company. Empirical Finance LLC increased its stake in Textron by 1.7% in the third 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 increased its stake in Textron by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock worth $1,290,000 after buying an additional 118 shares during the period. Apollon Wealth Management LLC lifted its holdings in Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after buying an additional 125 shares in the last quarter. Altman Advisors Inc. lifted its holdings in Textron by 0.6% during the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after buying an additional 129 shares in the last quarter. Finally, Creative Planning grew its stake in 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 acquiring an additional 165 shares in the last quarter. 86.03% of the stock is 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.