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

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

TXT has been the topic of a number of other reports. Citigroup raised their price target on 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 raised Textron from a neutral rating to a buy rating and upped their price target for the company from $85.00 to $105.00 in a report on Friday, March 8th. StockNews.com raised shares of Textron from a buy rating to a strong-buy rating in a report on Thursday, January 25th. UBS Group upped their target price on shares of Textron from $77.00 to $81.00 and gave the company a sell rating in a report on Friday, January 26th. Finally, The Goldman Sachs Group increased their target price on shares of Textron from $103.00 to $120.00 and gave the company a buy rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron currently has an average rating of Moderate Buy and an average price target of $95.63.

Textron Stock Performance

Shares of Textron stock opened at $86.40 on Friday. The business has a 50-day simple moving average of $92.12 and a 200-day simple moving average of $83.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 1.81. Textron has a one year low of $61.27 and a one year high of $97.33. The company has a market cap of $16.48 billion, a PE ratio of 18.46, a P/E/G ratio of 1.36 and a beta of 1.30.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the firm earned $1.05 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Textron will post 6.29 EPS for the current fiscal year.

Textron Announces Dividend

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

Institutional Investors Weigh In On Textron

Several hedge funds have recently made changes to their positions in TXT. Metis Global Partners LLC raised its stake in Textron by 12.8% during the 3rd quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock valued at $796,000 after acquiring an additional 1,158 shares during the last quarter. LSV Asset Management increased its holdings in shares of Textron by 7.6% in the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after purchasing an additional 230,560 shares during the period. Deutsche Bank AG raised its stake in shares of Textron by 36.9% during the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock worth $42,367,000 after purchasing an additional 146,055 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of Textron by 13.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after purchasing an additional 11,510 shares during the period. Finally, SG Americas Securities LLC grew its position in Textron by 269.1% in the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock valued at $1,680,000 after buying an additional 15,235 shares during the last quarter. Institutional investors and hedge funds 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.