Textron (NYSE:TXT) Price Target Raised to $97.00

Textron (NYSE:TXT) had its price target raised by Citigroup from $86.00 to $97.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the aerospace company’s stock. Citigroup‘s price target suggests a potential upside of 10.21% from the company’s current price.

A number of other equities analysts have also commented on the stock. Wall Street Zen lowered shares of Textron from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley lifted their price objective on shares of Textron from $86.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday. Weiss Ratings lowered Textron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 27th. TD Cowen reduced their target price on Textron from $105.00 to $100.00 and set a “buy” rating for the company in a report on Friday, October 9th. Finally, UBS Group raised their target price on Textron from $86.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.22.

Textron Stock Up 2.7%

NYSE TXT traded up $2.31 on Monday, reaching $88.01. The stock had a trading volume of 599,460 shares, compared to its average volume of 1,645,531. The company has a current ratio of 1.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. Textron has a 1 year low of $71.87 and a 1 year high of $101.57. The business has a 50 day moving average price of $78.57 and a 200 day moving average price of $88.32. The company has a market capitalization of $14.91 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.23 and a beta of 0.88.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 29th. The aerospace company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.33. The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.77 billion. Textron had a return on equity of 14.34% and a net margin of 6.30%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $1.55 EPS. On average, analysts forecast that Textron will post 6.60 EPS for the current fiscal year.

Hedge Funds Weigh In On Textron

Several hedge funds have recently bought and sold shares of the company. Cedar Mountain Advisors LLC bought a new position in shares of Textron during the first quarter valued at about $29,000. Security National Bank of SO Dak acquired a new position in Textron during the 2nd quarter worth $30,000. Elevation Wealth Partners LLC increased its holdings in Textron by 522.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 361 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 303 shares during the period. Trust Co. of Vermont purchased a new stake in Textron during the 2nd quarter worth about $50,000. Finally, Putney Financial Group LLC acquired a new stake in Textron in the 3rd quarter valued at about $61,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc (NYSE:TXT) is a diversified industrial company that develops and manufactures aircraft, helicopters, specialized vehicles, defense systems and other industrial products. Founded in 1923 by Royal Little, the company has grown through the development and acquisition of businesses serving commercial, government and consumer markets.

Textron Aviation produces business jets, turboprop aircraft and general aviation aircraft under the Cessna and Beechcraft brands. Bell designs and manufactures military and commercial helicopters, tiltrotor aircraft and related support services.