Textron (NYSE:TXT – Get Free Report) was upgraded by research analysts at Vertical Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm presently has a $91.00 price objective on the aerospace company’s stock. Vertical Research’s target price would indicate a potential upside of 20.40% from the company’s current price.
Other equities analysts have also issued reports about the company. Barclays decreased their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. reduced their price target 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. TD Cowen raised shares of Textron to a “hold” rating in a report on Thursday, December 19th. Finally, UBS Group dropped their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and an average price target of $100.00.
Read Our Latest Stock Report on TXT
Textron Trading Up 0.2 %
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, sell-side analysts anticipate that Textron will post 5.52 earnings per share for the current year.
Institutional Investors Weigh In On Textron
Several institutional investors have recently bought and sold shares of TXT. Franklin Resources Inc. lifted its position in shares of Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Textron during the 3rd quarter worth about $828,000. Easterly Investment Partners LLC boosted its stake 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 worth $3,659,000 after buying an additional 19,304 shares during the last quarter. KBC Group NV bought a new position in shares of Textron in the 3rd quarter valued at about $1,797,000. Finally, National Bank of Canada FI increased its position in shares of Textron by 161.8% in the third quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after acquiring an additional 89,724 shares during the last quarter. Institutional investors 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.
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