Textron (NYSE:TXT) Stock Gets Price Target Boost from UBS Group

Textron (NYSE:TXT) had its target price upped by stock analysts at UBS Group from $86.00 to $94.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the aerospace company’s stock. UBS Group‘s target price indicates a potential upside of 9.71% from the company’s current price.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Morgan Stanley lowered their price target on shares of Textron from $98.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Weiss Ratings downgraded Textron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 27th. Citigroup lowered their price target on Textron from $99.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Finally, TD Cowen decreased their price target on Textron from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $99.00.

Textron Price Performance

TXT opened at $85.68 on Friday. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.23 and a beta of 0.88. 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 12-month low of $71.87 and a 12-month high of $101.57. The business’s fifty day simple moving average is $78.57 and its 200-day simple moving average is $88.32.

Textron (NYSE:TXT) last issued its quarterly earnings data 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 firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Textron had a return on equity of 14.34% and a net margin of 6.30%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. On average, equities research analysts anticipate that Textron will post 6.60 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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