Textron (NYSE:TXT) Price Target Lowered to $105.00 at Susquehanna

Textron (NYSE:TXT) had its target price trimmed by Susquehanna from $110.00 to $105.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a positive rating on the aerospace company’s stock.

TXT has been the topic of several other reports. Citigroup upped their price objective on shares of Textron from $104.00 to $111.00 and gave the stock a buy rating in a research report on Thursday, April 4th. The Goldman Sachs Group upped their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. UBS Group upped their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a sell rating in a research report on Friday, January 26th. Bank of America upgraded shares of Textron from a neutral rating to a buy rating and increased their price target for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Finally, StockNews.com upgraded shares of Textron from a buy rating to a strong-buy rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $95.63.

Textron Trading Up 1.9 %

Shares of TXT opened at $86.51 on Friday. The business’s 50-day moving average price is $92.10 and its 200-day moving average price is $83.86. Textron has a twelve month low of $61.27 and a twelve month high of $97.33. The stock has a market cap of $16.64 billion, a PE ratio of 18.49, a P/E/G ratio of 1.33 and a beta of 1.30. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.41.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Textron will post 6.3 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio (DPR) is presently 1.71%.

Institutional Trading of Textron

Institutional investors have recently made changes to their positions in the stock. Boston Partners lifted its stake in Textron by 2.0% in the fourth quarter. Boston Partners now owns 7,016,363 shares of the aerospace company’s stock worth $564,235,000 after acquiring an additional 139,927 shares during the period. Victory Capital Management Inc. raised its holdings in Textron by 3.4% in the third quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock worth $527,948,000 after purchasing an additional 220,891 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Textron by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after purchasing an additional 596,214 shares in the last quarter. Primecap Management Co. CA raised its holdings in Textron by 9.7% in the third quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock worth $421,503,000 after purchasing an additional 477,720 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Textron by 15.9% in the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after buying an additional 521,276 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.