Textron (NYSE:TXT) PT Raised to $120.00

Textron (NYSE:TXT) had its price objective raised by equities research analysts at The Goldman Sachs Group from $103.00 to $120.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 30.14% from the stock’s current price.

TXT has been the topic of a number of other research reports. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. raised their target price on Textron from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, December 20th. UBS Group raised their target price on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $105.00 in a report on Friday, March 8th. Finally, Citigroup raised their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.63.

Textron Stock Down 1.1 %

Shares of NYSE:TXT opened at $92.21 on Tuesday. The business’s 50 day simple moving average is $91.43 and its two-hundred day simple moving average is $83.20. The firm has a market cap of $17.74 billion, a P/E ratio of 20.18, a PEG ratio of 1.47 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. Textron has a 52-week low of $61.27 and a 52-week high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.97 billion. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. As a group, research analysts forecast that Textron will post 6.27 EPS for the current fiscal year.

Institutional Trading of Textron

A number of hedge funds have recently bought and sold shares of TXT. CVA Family Office LLC bought a new stake in Textron during the fourth quarter worth $29,000. Money Concepts Capital Corp raised its stake in shares of Textron by 109.0% in the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock valued at $31,000 after buying an additional 231 shares during the period. CENTRAL TRUST Co raised its stake in shares of Textron by 100.0% in the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock valued at $35,000 after buying an additional 300 shares during the period. Global Retirement Partners LLC raised its stake in shares of Textron by 393.9% in the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after buying an additional 390 shares during the period. Finally, Trust Co. of Vermont bought a new stake in shares of Textron in the third quarter valued at $37,000. 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.