Textron (NYSE:TXT) Stock Gets Price Target Cut from Freedom Broker

Textron (NYSE:TXT) had its price objective trimmed by Freedom Broker from $108.00 to $101.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

Other research analysts also recently issued reports about the company. Citigroup lifted their target price on Textron from $86.00 to $97.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group increased their price target on Textron from $86.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Morgan Stanley raised their price objective on Textron from $86.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday. Weiss Ratings downgraded Textron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 27th. Finally, Wall Street Zen lowered Textron from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Textron has a consensus rating of “Hold” and an average price target of $101.09.

Textron Stock Down 1.2%

Shares of NYSE:TXT opened at $86.66 on Monday. Textron has a 52-week low of $71.87 and a 52-week high of $101.57. The company has a market capitalization of $14.68 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.82 and a current ratio of 1.80. The company has a fifty day moving average of $78.89 and a 200-day moving average of $88.23.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 29th. The aerospace company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.33. The company had revenue of $3.75 billion for 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%. Textron’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.55 EPS. On average, equities analysts predict that Textron will post 6.63 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 11th will be issued a $0.02 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio is presently 1.44%.

Institutional Trading of Textron

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LP purchased a new stake in shares of Textron during the second quarter worth about $10,329,000. Soltis Investment Advisors LLC raised its stake in Textron by 337.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 15,580 shares of the aerospace company’s stock valued at $1,187,000 after purchasing an additional 12,018 shares during the period. State Street Corp lifted its holdings in Textron by 0.9% in the 2nd quarter. State Street Corp now owns 9,830,439 shares of the aerospace company’s stock worth $901,942,000 after purchasing an additional 86,141 shares in the last quarter. Bank of America Corp DE purchased a new position in Textron in the 2nd quarter worth approximately $63,076,000. Finally, Jupiter Topco LLC bought a new position in Textron in the 2nd quarter worth approximately $1,194,000. 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.