Textron (NYSE:TXT) Price Target Lowered to $107.00 at Citigroup

Textron (NYSE:TXT) had its price objective decreased by equities research analysts at Citigroup from $111.00 to $107.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Citigroup’s target price suggests a potential upside of 68.33% from the stock’s current price.

TXT has been the topic of a number of other reports. Morgan Stanley lowered their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. TD Cowen upgraded Textron to a “hold” rating in a report on Monday, February 24th. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Robert W. Baird reduced their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Barclays lowered their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.09.

Textron Stock Performance

NYSE TXT traded down $3.22 on Thursday, reaching $63.56. 329,501 shares of the company’s stock traded hands, compared to its average volume of 1,179,362. Textron has a fifty-two week low of $57.70 and a fifty-two week high of $96.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.18 and a beta of 1.06. The stock has a 50 day moving average price of $72.12 and a 200-day moving average price of $78.76.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Equities research analysts predict that Textron will post 6.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. raised its holdings in Textron by 12.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,092 shares of the aerospace company’s stock worth $946,000 after purchasing an additional 1,475 shares in the last quarter. Kwmg LLC raised its stake in Textron by 1.7% during the 1st quarter. Kwmg LLC now owns 84,047 shares of the aerospace company’s stock worth $6,072,000 after acquiring an additional 1,405 shares in the last quarter. Merit Financial Group LLC lifted its position in Textron by 16.4% in the first quarter. Merit Financial Group LLC now owns 5,569 shares of the aerospace company’s stock valued at $402,000 after acquiring an additional 785 shares during the last quarter. NBC Securities Inc. grew its holdings in shares of Textron by 113,871.4% during the first quarter. NBC Securities Inc. now owns 7,978 shares of the aerospace company’s stock worth $576,000 after purchasing an additional 7,971 shares during the last quarter. Finally, Czech National Bank increased its position in shares of Textron by 4.3% during the first quarter. Czech National Bank now owns 41,934 shares of the aerospace company’s stock worth $3,030,000 after purchasing an additional 1,711 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.