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

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

Other analysts have also issued reports about the company. Bank of America raised Textron from a neutral rating to a buy rating and lifted their target price for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Citigroup lifted their target price on Textron from $104.00 to $111.00 and gave the stock a buy rating in a research report on Thursday, April 4th. The Goldman Sachs Group lifted their target price on Textron from $103.00 to $120.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. UBS Group lifted their target price on Textron from $77.00 to $81.00 and gave the stock a sell rating in a research report on Friday, January 26th. Finally, StockNews.com raised Textron from a buy rating to a strong-buy rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $95.63.

Textron Price Performance

Shares of Textron stock opened at $86.51 on Friday. Textron has a twelve month low of $61.27 and a twelve month high of $97.33. The stock has a market capitalization of $16.64 billion, a P/E ratio of 18.49, a PEG ratio of 1.33 and a beta of 1.30. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.41. The business’s fifty day moving average price is $92.10 and its 200 day moving average price is $83.86.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 EPS. As a group, research analysts anticipate that Textron will post 6.3 earnings per share for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.02 dividend. The ex-dividend date of this dividend 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 (DPR) is 1.71%.

Institutional Investors Weigh In On Textron

A number of institutional investors and hedge funds have recently modified their holdings of TXT. CVA Family Office LLC acquired a new stake in shares of Textron during the 4th quarter valued at $29,000. Global Retirement Partners LLC lifted its holdings in shares of Textron by 393.9% in the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 390 shares in the last quarter. Trust Co. of Vermont purchased a new stake in shares of Textron in the third quarter valued at $37,000. Provence Wealth Management Group purchased a new stake in shares of Textron in the third quarter valued at $39,000. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Textron in the fourth quarter valued at $40,000. 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.