JPMorgan Chase & Co. Has Lowered Expectations for Textron (NYSE:TXT) Stock Price

Textron (NYSE:TXT - Get Free Report) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $90.00 to $88.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the aerospace company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 11.59% from the company's previous close.

Other analysts have also recently issued reports about the company. Robert W. Baird lowered their price target on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Susquehanna cut their target price on shares of Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price target for the company in a report on Monday, January 6th. Barclays dropped their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Finally, TD Cowen raised Textron to a "hold" rating in a research note on Thursday, December 19th. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Textron Trading Up 0.4 %

NYSE:TXT traded up $0.30 on Thursday, hitting $78.86. 1,028,365 shares of the stock were exchanged, compared to its average volume of 1,269,616. The company's 50-day moving average price is $81.01 and its 200 day moving average price is $85.23. Textron has a 52 week low of $74.89 and a 52 week high of $97.33. The stock has a market capitalization of $14.63 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the company earned $1.49 EPS. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Textron will post 5.45 earnings per share for the current year.

Institutional Trading of Textron

A number of hedge funds and other institutional investors have recently modified their holdings of TXT. Brandes Investment Partners LP increased its position in shares of Textron by 20.0% during the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company's stock worth $133,096,000 after purchasing an additional 258,778 shares during the last quarter. AQR Capital Management LLC increased its holdings in Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company's stock worth $124,608,000 after buying an additional 231,173 shares during the last quarter. Distillate Capital Partners LLC raised its position in Textron by 101,299.4% during the second quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company's stock worth $14,278,000 after acquiring an additional 166,131 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company's stock valued at $241,152,000 after acquiring an additional 160,923 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its position in shares of Textron by 1,839.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 162,955 shares of the aerospace company's stock valued at $13,991,000 after acquiring an additional 154,555 shares during the period. Institutional investors and hedge funds 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.