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

Textron (NYSE:TXT) had its price target cut by analysts at Susquehanna from $110.00 to $105.00 in a report released on Friday, Benzinga reports. The firm currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s target price suggests a potential upside of 21.44% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Citigroup upped their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $105.00 in a report on Friday, March 8th. The Goldman Sachs Group raised their price target on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. UBS Group raised their price target on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Finally, StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.63.

Textron Price Performance

Shares of TXT traded up $1.56 during mid-day trading on Friday, hitting $86.46. 549,186 shares of the company were exchanged, compared to its average volume of 1,191,744. Textron has a 1-year low of $61.27 and a 1-year high of $97.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The company has a 50 day moving average of $92.09 and a 200-day moving average of $83.81. The stock has a market cap of $16.63 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.73% and a return on equity of 16.05%. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts expect that Textron will post 6.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TXT. CVA Family Office LLC acquired a new position in shares of Textron during the fourth quarter worth about $29,000. Global Retirement Partners LLC boosted its holdings in Textron by 393.9% during the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after buying an additional 390 shares in the last quarter. Trust Co. of Vermont purchased a new stake in Textron during the third quarter worth about $37,000. Provence Wealth Management Group purchased a new stake in Textron during the third quarter worth about $39,000. Finally, Morton Brown Family Wealth LLC purchased a new stake in Textron during the fourth quarter worth about $40,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.