Citigroup Lowers Textron (NYSE:TXT) Price Target to $111.00

Textron (NYSE:TXT - Get Free Report) had its price target reduced by Citigroup from $118.00 to $111.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the aerospace company's stock. Citigroup's price objective would indicate a potential upside of 36.83% from the stock's previous close.

Other equities analysts have also issued reports about the company. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective on the stock in a research report on Monday, January 6th. Susquehanna lowered their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their target price on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. TD Cowen raised shares of Textron to a "hold" rating in a research note on Thursday, December 19th. Finally, Robert W. Baird cut their target price on shares of Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.64.

Textron Stock Performance

Shares of TXT traded up $1.96 during trading hours on Tuesday, hitting $81.12. The company's stock had a trading volume of 1,816,515 shares, compared to its average volume of 1,301,626. The business has a 50 day simple moving average of $80.48 and a two-hundred day simple moving average of $85.08. Textron has a 52-week low of $74.89 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The company has a market cap of $15.05 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.21 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results 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). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion during the quarter, compared to analysts' expectations of $3.50 billion. During the same period in the previous year, the company posted $1.49 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts expect that Textron will post 5.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Textron

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP boosted its holdings in shares of Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company's stock worth $133,096,000 after buying an additional 258,778 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Textron by 18.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company's stock worth $124,608,000 after acquiring an additional 231,173 shares during the last quarter. Distillate Capital Partners LLC grew its position in shares of Textron by 101,299.4% during the 2nd quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company's stock valued at $14,278,000 after acquiring an additional 166,131 shares during the period. Susquehanna Fundamental Investments LLC increased its position in Textron by 1,839.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 162,955 shares of the aerospace company's stock worth $13,991,000 after buying an additional 154,555 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Textron during the 4th quarter valued at approximately $11,523,000. 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.