Susquehanna Has Lowered Expectations for Textron (NYSE:TXT) Stock Price

Textron (NYSE:TXT) had its target price reduced by research analysts at Susquehanna from $100.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price objective would indicate a potential upside of 19.92% from the company’s current price.

TXT has been the subject of several other reports. JPMorgan Chase & Co. reduced their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird reduced their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday. Barclays cut their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.64.

Textron Stock Down 0.7 %

NYSE:TXT traded down $0.55 during mid-day trading on Wednesday, reaching $75.05. The company’s stock had a trading volume of 81,781 shares, compared to its average volume of 1,100,211. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $13.92 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The stock has a fifty day moving average of $81.73 and a 200-day moving average of $85.63. Textron has a 1 year low of $74.89 and a 1 year high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. Textron’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 earnings per share. Equities research analysts forecast that Textron will post 5.52 earnings per share for the current year.

Hedge Funds Weigh In On Textron

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its holdings in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after acquiring an additional 15,294 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Textron during the 3rd quarter worth approximately $828,000. Easterly Investment Partners LLC increased its holdings in shares of Textron by 87.7% during the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after purchasing an additional 19,304 shares in the last quarter. KBC Group NV acquired a new position in shares of Textron in the 3rd quarter valued at $1,797,000. Finally, National Bank of Canada FI boosted its holdings in Textron by 161.8% during the third quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock worth $12,860,000 after buying an additional 89,724 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.