Textron (NYSE:TXT) Price Target Cut to $90.00 by Analysts at Susquehanna

Textron (NYSE:TXT - Get Free Report) had its price objective decreased by analysts at Susquehanna from $100.00 to $90.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "positive" rating on the aerospace company's stock. Susquehanna's price objective would indicate a potential upside of 18.39% from the stock's previous close.

Several other brokerages have also recently commented on TXT. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. Robert W. Baird decreased their target price on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a report on Friday, October 25th. Finally, Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.64.

Textron Stock Performance

TXT traded up $0.42 during trading hours on Wednesday, hitting $76.02. The company's stock had a trading volume of 1,066,558 shares, compared to its average volume of 1,307,452. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron has a fifty-two week low of $74.89 and a fifty-two week high of $97.33. The company has a 50-day simple moving average of $81.61 and a 200 day simple moving average of $85.56. The firm has a market capitalization of $14.10 billion, a PE ratio of 16.71, a PEG ratio of 1.46 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data 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). The company 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.49 earnings per share. As a group, sell-side analysts expect that Textron will post 5.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TXT. True Wealth Design LLC bought a new stake in shares of Textron during the 3rd quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in Textron during the third quarter valued at about $42,000. Truvestments Capital LLC acquired a new stake in shares of Textron in the third quarter valued at about $43,000. Venturi Wealth Management LLC increased its stake in shares of Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock worth $50,000 after purchasing an additional 232 shares during the period. Finally, Trust Co. of Vermont boosted its stake in Textron by 94.7% during the 3rd quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company's stock valued at $81,000 after purchasing an additional 445 shares during the period. 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.