1 week Ago By Defense World Staff
Textron ( NYSE:TXT – Get Free Report ) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat reports. They presently have a $85.00 target price on the aerospace company’s stock, down from their previous target price of $110.
00. Bank of America ‘s price objective suggests a potential upside of 10.07% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th.
UBS Group dropped their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th.
Citigroup cut their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st.
Morgan Stanley cut their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday.
Finally, Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th.
One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.
45. Check Out Our Latest Stock Report on Textron Textron Stock Performance Textron ( NYSE:TXT – Get Free Report ) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $1.
34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07.
The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3,778,060 billion. Textron had a return on equity of 14.
92% and a net margin of 6.01%. The business’s revenue was down 7.
2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share.
As a group, analysts anticipate that Textron will post 6.15 EPS for the current fiscal year. Institutional Trading of Textron Several institutional investors and hedge funds have recently bought and sold shares of TXT.
Brandes Investment Partners LP grew its stake in shares of Textron by 20.0% during the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after purchasing an additional 258,778 shares during the period.
AQR Capital Management LLC grew its position in Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after buying an additional 231,173 shares during the period.
Robeco Institutional Asset Management B.V. boosted its stake in shares of Textron by 3.
3% during the 4th quarter. Robeco Institutional Asset Management B.V.
now owns 511,770 shares of the aerospace company’s stock worth $39,145,000 after acquiring an additional 16,359 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Textron by 0.
9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company’s stock valued at $41,725,000 after acquiring an additional 4,327 shares during the period.
Finally, Wellington Management Group LLP increased its stake in shares of Textron by 18.0% in the 3rd quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock valued at $35,563,000 after purchasing an additional 61,248 shares in the last quarter.
86.03% of the stock is currently owned by institutional investors and hedge funds. About Textron ( Get Free Report ) 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. Recommended Stories Five stocks we like better than Textron There Are Different Types of Stock To Invest In Bloom Energy: Powering the Future With Decentralized Energy Consumer Staples Stocks, Explained Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul Which Wall Street Analysts are the Most Accurate? Why Traders Are Buying the Dip on Johnson & Johnson Stock Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.
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