Textron (NYSE:TXT) Stock Price Expected to Rise, UBS Group Analyst Says

Textron (NYSE:TXT) had its price objective raised by UBS Group from $86.00 to $94.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the aerospace company’s stock. UBS Group‘s price objective suggests a potential upside of 9.71% from the stock’s current price.

Several other equities research analysts have also weighed in on TXT. Morgan Stanley reduced their price objective on Textron from $98.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. TD Cowen cut their target price on Textron from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Wall Street Zen lowered Textron from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Citigroup dropped their price target on Textron from $99.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Finally, Weiss Ratings cut Textron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Textron presently has a consensus rating of “Hold” and an average target price of $99.00.

Textron Stock Down 0.0%

TXT stock opened at $85.68 on Friday. Textron has a 12 month low of $71.87 and a 12 month high of $101.57. The firm has a market cap of $14.51 billion, a PE ratio of 15.44, a P/E/G ratio of 1.23 and a beta of 0.88. The firm has a 50 day simple moving average of $78.57 and a 200 day simple moving average of $88.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.80 and a quick ratio of 0.82.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 29th. The aerospace company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.33. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.77 billion. Textron had a net margin of 6.30% and a return on equity of 14.34%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 earnings per share. Equities research analysts forecast that Textron will post 6.60 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TXT. BlackRock Inc. acquired a new position in Textron during the second quarter valued at $1,434,125,000. State Street Corp boosted its position in Textron by 0.9% during the 2nd quarter. State Street Corp now owns 9,830,439 shares of the aerospace company’s stock worth $901,942,000 after acquiring an additional 86,141 shares during the period. Primecap Management Co. CA purchased a new position in Textron during the 2nd quarter valued at about $111,723,000. Bank of New York Mellon Corp purchased a new position in Textron during the 2nd quarter valued at about $105,946,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Textron by 31.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,138 shares of the aerospace company’s stock valued at $87,523,000 after purchasing an additional 227,607 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

About Textron

Textron Inc (NYSE:TXT) is a diversified industrial company that develops and manufactures aircraft, helicopters, specialized vehicles, defense systems and other industrial products. Founded in 1923 by Royal Little, the company has grown through the development and acquisition of businesses serving commercial, government and consumer markets.

Textron Aviation produces business jets, turboprop aircraft and general aviation aircraft under the Cessna and Beechcraft brands. Bell designs and manufactures military and commercial helicopters, tiltrotor aircraft and related support services.