Textron (NYSE:TXT) Reaches New 52-Week High – What’s Next?

Textron Inc. (NYSE:TXT)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $95.28 and last traded at $95.4450, with a volume of 167036 shares traded. The stock had previously closed at $93.16.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Textron from $89.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. Freedom Capital raised shares of Textron to a “strong-buy” rating in a report on Friday, January 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 target price on shares of Textron in a research report on Thursday, January 15th. TD Cowen cut their price target on Textron from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, October 24th. Finally, Susquehanna reaffirmed a “positive” rating and set a $110.00 price objective on shares of Textron in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $96.73.

Textron Trading Down 0.3%

The stock has a market cap of $16.92 billion, a P/E ratio of 21.10, a P/E/G ratio of 1.44 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $87.41 and a two-hundred day moving average price of $83.69.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.47 by $0.08. Textron had a net margin of 5.81% and a return on equity of 14.16%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. Textron’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Institutional Trading of Textron

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Textron by 2.4% in the third quarter. State Street Corp now owns 9,220,307 shares of the aerospace company’s stock worth $779,205,000 after buying an additional 212,857 shares during the period. Invesco Ltd. lifted its position in shares of Textron by 1.7% during the third quarter. Invesco Ltd. now owns 8,270,901 shares of the aerospace company’s stock worth $698,808,000 after purchasing an additional 140,713 shares during the last quarter. Boston Partners boosted its stake in shares of Textron by 0.9% during the third quarter. Boston Partners now owns 7,257,533 shares of the aerospace company’s stock valued at $613,327,000 after purchasing an additional 66,747 shares during the period. LSV Asset Management grew its holdings in shares of Textron by 7.2% in the second quarter. LSV Asset Management now owns 4,153,321 shares of the aerospace company’s stock worth $333,470,000 after purchasing an additional 279,237 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Textron by 33.1% during the 3rd quarter. AQR Capital Management LLC now owns 3,545,395 shares of the aerospace company’s stock valued at $298,239,000 after buying an additional 880,783 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.